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TREASURY DEPARTMENT
7\
3
-
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,.
MONDAY, SEPTEMBER 17, 1934,
9— 15-34.
*RESS SERVICE
No. 3 - 0
*
Secretary of the Treasury Morgenthau stated today that in response to
the offering last Monday of two series of Treasury notes and one of Treasury
bonds, in exchange for Treasury certificates of indebtedness maturing
September 15, 1934, and Fourth Liberty Loan bonds called for redemption on
October 15, 1934, subscriptions aggregating $1,044,000,000 had been received
up to the close of business Saturday.
The Secretary stated that subscriptions aggregating $514,268,000 were
received for the exchange offering of two-year 1—l/2 percent Treasury notes,
open only to the holders of Treasury certificates of indebtedness maturing
September 15, 1934, which offering closed on September 13.
These sub
scriptions were allotted in full.
The Secretary stated that the subscription books for the four-year 2-l/2
percent Treasury notes and the 3—1/4 percent Treasury bonds of 1944-46, open
on an exchange basis only to the holders of: Fourth Liberty Loan bonds called
for redemption on October 15, 1934, had not yet been closed, but that sub
scriptions have been received aggregating $386,000,000 for the notes and
$144,000,000 for the bonds,
TREASURY DEPARTMENT
Washington
September 17,1934.
MEMORANDUM FOR THE PRESS:
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended September 14, 1934s
San Francisco......................
347,564.29 fine ounces
Denver.... ........ .
5.440.00
n
Total for week ended Sept. 14... 353,004.29
**
Total receipts of silver through September 14,1934: 12,329,000.00 fine ounces.
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 14, 1934:
Philadelphia.......................
30,975
New York
3,200,880 ”
San Francisco......................
745,467 n
Denver ............................
2,419 "
New Orleans...................
545 M
Seattle.............................
4.077__"
Total for week ended Sept.14.... 3,984,363 **
Total receipts of silver through September 14,1954:
fineounces
79,983,361 fine ounces.
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended Sept. 14, 1934:
P h i l a d e l p h i a •
New York...............
San Francisco..........
Denver.................
New Orleans...........
Seattle................
Total for the week..••••••
Imports__________ Secondary_____ New Domestic
$ 5,372.85
$315,245.36
$
122.99
.....
43,900.00
676,500.00
14,449.73
142,318.29
l,o42,300.50
18,164.00
34,389.00
754,345.00
13,770.63
41,618.46
1,478.88
.....
19.764.22 _
584,245.12
$51,757.21
$597,255.33
$3,158,992.49
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE MEASURER'S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin_____
Gold Certificates
Week ended Sept. 12..............
”1
42,673.65
$ 845,640.00
Received previously........ .....
28.991.491.65
69.006.,220^00
Total to Sept. 12,1934..........
$29,034,165.30
$69,849,860.00
Received by Treasurer*s Office:
Week ended Sept. 12..••••••••••••
Received previously••••••••••••••
Total to Sept. 12, 1934.........
NOTE:
$
$
900.00
250.994.00
251,894.00
$
12,<00.00
I >712>800^00---$ 1,725,000.00
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the week JmdBabc&joatai
$11,657,000
n
TREASURY DEPARTMENT
‘ "Washington
MEMORANDUM FOR THE PRESS:
September 17, 1934.
RECEIPTS OF SltiVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended September 14, 1934:
I.San Francisco...................... 347,564.29 fine ounces
■Denver........ ................ *% • ••
5,440.00
n
”
Total for week ended Sept. 14*,. 353,004.29
H
,r
Total receipts of silver through September 14,1934: 12,329,000.00 fine ounces.
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 14, 1934:
P h i l a d e l p h i a . ...........
30,975 fine ounces
New Y
o
r
k
.
3*200,880
11
11
San Francisco**#....... *,*.........
745,467
”
11
D e n v e r . , , , . .............
2,419
11
n
New O
r
l
e
a
n
s
.
545
”
M
Seattle .,* . . . . . . . . . . . . . . . . . . . . . . *
*
Total for week ended Sept. 14... 3,984,363
11
’•
Total receipts of silver through September 14,1934:
79,983,361 fine ounces.
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended Sept. 14, 1934:
Philadelphia.
New York. ..............
San Francisco..........
Denver.f,
.
New Orleans..-.........,
S eat 11 e.........««....*
Total for the week........
Imports
$ 5,372.85
14,449.73
18,164.00
13,770% 63
$51,757,21
Secondary
$315,245.36
43,900*00
142,318.29
34,389.00
41,618,46
19,764.22
$597,235.33
New Domestic
$
122.99
676.500.00
1,342,300.50
754.345.00
1,478.88
384,245.12
$3,158,992.49
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Gold CertificatesReceived ty Federal Reserve Banks:'
Gold Coin
$
843,640.00
Week ended Sept. 12.••••••••..«..
$
42*673.65
69,006,220,00
Received previously.....,...,.,..
28,991,491.65
$69,849,860.00
Total to Sept. 12,1934.,,,...,.%.
$29,034,165.30
Received by Treasurer’s Office!
Week ended Sept. 12..............
Received previously*..... *. •••».. •
Total to Sept, 12, 1934,*........
NOTE:
$
$
900.00
250,994,00
251,894.00
$
1 2 ,200.00
1,712,800,00
$ 1,725,000.00
Gold bars deposited with the New York Assay Office to the
amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:.
Total for the week,••#••• 9••••
$11,657,000.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
September 17, 1934*
Press Service
No#* 3 - 1
ACTIVITIES OP INVESTIGATORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING- SEPTEMBER 8, 1934*
(Corrected statement based on complete weekly reports
of investigators)
Di st *
No.
1
States
Conn.
Maine
Mass*
N. H.
R. I*
Vt.
Stills
Seized
Capacity
Gals* of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Tracks
Seized
Value of
Property
Seized
Arrests
1
1,250
1
100
15
18
85
75
58
TOTAL
2
1,350
251
12,050
3
$ 8,854
9
2
N. Y.
15
2,265
922
51,944
5
$13,473
30
3
Penn*
9
1,082
837
14,700
5
$ 5,986
13
4
Del*
N. J.
1
4
160
3,605
3
956
540
49,500
$
25
11,878
1
8
TOTAL
5
3,765
959
50,040
$11,903
9
D. C*
Md*
N.Car.
Va*
f. Va. <
1
8
10
6
7
50
3,055
980
250
191
75
219
285
164
205
100
14,250
21,400
3,150
1*680
3
2
2
3
3
TOTAL
32
4,526
'948
40,580
13
Ala*
Fla.
Ga.
S *Car.
11
21
18
6
2,415
3,555
2,760
1,110
148
312
241
94
2,920
22,500
31,600
2,000
TOTAL
56
9.840
795
Ky.
Tehn*
12
15
795
1,295
TOTAL
27
2,090
5
6
7
1
10,000
$
1
1
2,050
$
3
300
144
7,950
450
10
3
2
1
275
775
727
1,592
1,258
9
14
23
7
28
$ 4,627
81
4
2
3
$
909
4,380
3,644
531
22
20
23
9
59*020
9
$ 9,464
74
166
90
5, 850
6,760
2
2
$ 1,336
1,230
21
24
256
12,610
4
$ 2,566
45
i
H
Dist.
No.
8
9
10
11
12
Stated
14
Value of
Property
Seized
Arrests
8
13
765
2,900
138
562
6,580
26,570
1
5
$ 2,063
3,305
7
22
TOTAL
21
3,665
700
33,150
6
$ 5,368
29
111.
Ind.
Wise.
5
4
3
400
122
225
216
65
65
730
1,112
4,550
1
$ 1,910
15
1,700
7
3
3
TOTAL
12
747
346
6,392
1
$ 3,625
13
Lci«
Miss.
Texas
3
15
18
50
1,210
1,671
102
20 2
579
1,079
6,144
7,025
2
5
11
$
286
1,606
3,966
8
22
56
TOTAL
36
2,931
883
14,248
18
$ 5,858
86
Ark.
Kans.
Mo.
Okla.
16
2
13
9
2,015
83
2,115
845
545
108
471
297
10,100
600
46,845
3,450
3
2
2
4
$ 2,670
209
9,606
2,198
32
6
29
32
TOTAL
40
5,058
1,421
60,995
11
$14,683
99
1
50
64
39
10
2
400
4
2
$ 1,022
710
4
9
1
2
1
50
113
402
6
$ 1,732
16
2
3
85
395
152
334
400
10,057
1
1
425
1,481
6
5
TOTAL
5
480
486
10,457
2
$ 1,906
11
^alif.
Hawaii
Nev.
2
1,030
1,131
60,000
2
$10,000
4
TOTAL
2
1,030
1,131
60,000
2
$10,000
4
Iowa
Minn.
Neb.
N.Dak.
S.Dak.
Ariz.
Colo.
N.Mex.
Utah
Wyo.
$
Idaho
Mont*
Ore.
Wash.
3
3
80
700
4
70
47
53
TOTAL
6
780
174
GRAND TOTAL
269
39,659
10,222
15
Autos &
Trucks
Seized
Mich.
Ohio
TOTAL
13
Stills
Seized
a* 8 *
w..'J
iii'iisLi
Gals, of Gals, of
Mash
Capacity Spirits
Seized
Seized
1
2
277
303
1,284
2
20
5
3
3
$ 1,864
30
88
$101,909
549
$
600
1,099
VvjSK’.
1,699
428,287
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Tuesday, September 18, 1934.
Press Service
"?_-b
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated September 19, 1934, and
maturing March 30, 1936, which were offered on September 14,
were opened at the Federal reserve banks on September 17,
1934*
The total amount applied for was $150,849,000, of which
$75,041,000 was accepted# The accepted bids ranged in price
fro® 99*907, equivalent to a rate of about 0*18 percent per
annum, to 99*840, equivalent to a rdfce of about 0*32 percent
per annum, on a bank discount basis* Only part of the amount
bid for at the latter price was accepted* The average price
of Treasury bills to be issued is 99*857 and the average
rate is about 0*28 percent per annum on a bank discount basis
TREASURY DEPARTMENT
Washington
FOR RELEASE, .MORNING PAPERSj
Tuesday, September 18, 1934*
Press Service
No. 3 - 2
9-17-34
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury hills, dated September 19, 1934, and matxiring March 20,
1935, which were offered on September 14, were opened at the
Federal reserve banks on September 17, 1934.
The total amount applied for was $150,849,000, of which
$75,041,000 was accepted*
The accepted bids ranged in price
from 99.907, equivalent to a rate of about 0.18 per cent per
annum, to 99.840, equivalent to a rate of about 0.32 per cent
per annum, on a bhnk discount basis-.
Only part of the amount
bid for at the latter price was accepted.
The average price
of Treasury bills to be issued is 99.857 and the average rate
is about 0.28 per cent per annum on a bank discount basis.
Vttm U s l O y
Chemist, Hev Hampshire H^olng Gcia&issioa,
Concord, N. H.
Dp . 7. N. Strickland,
Hhode island Racing Canal salon,
Providence, H* 1#
Hr. H. H. Oyler,
District Supervisor, Bureau of Narcotics,
Detroit, Mich.
Dr* H. J. Woliner,
Christ,
Treasury
— -- -----rieparisent.
^
outfit
7
, Peter Valaer, Jr*,
Chemist, Treasury Department*
M. Stela,
Department,
Dr. Raymond IK. Haim,
Chemist, National Institute of Health «
U. S. Public Health Serrlee,
Washington, D. 0.
Dr* Harry W. Schoenlng,
Chief, Pathological Division,
Bureau of Animal Industry,
Dept* of Agriculture,
Washington, D* C*
COHFERBHOS JOB STAliDAHDIZINQ METHODS OF SAUVA AHALYSKS,
held la offlee of Commissioner of Narcotics,
September 17 , 1934 , at 10 A. M*
H« F. Aaslinger,
Const,aaloner of Narcotics*
Mr. Walter H. DOnovan,
Secretary, Florida Racing Conti salon,
81 Centennial Building,
Tallahassee, Florida*
Br« Janes C. Munch,
Professor o f Pharmacology, Tempi* U n iv e rsity ,
Philadelphia, Pa*
Mr. Charles 1, Morgan*
City Chemist,
Miami, Florida*
Dr* ?» 9* Catlett,
Veterinarian, Se* York fc fi-orlda Skat* Racing Ccraaiaaiona.
Or. S. dtutanan,
GUrnXBt,Wait Virginia Rasing Casmiaalcm,
Shepherd College,
Shepherdstoan, W. Ya.
a
Mr. C. C. Henrio,
Commission Chemist,
Yet. Racing Commission of Ohio,
Columbus, Ohio*
Dr. W. B. D. Penniman,
Penniman It Browne,
Baltimore, Md*
^—
(>^^-"^7
• \ * * ~ /* * - 4
tA***~~*
r
Dr. Frederick Kenney*
Head, Hew York Testing laboratory*
Dr. T. C. Fitzgerald,
^
.
Ccwaiasioner, Yet. Racing Commission of Ohio,
Columbus, Ohio*
' r
'~'s
Mr* Peter Yalser, Ir*,
Chemist, Treasury Department,
Dr* Raymond M* Harm,
Chemist, National Institute of Health
U*S* Public Sealth Service,
Washington, D* C*
Dr* Harry W*. Schoening,
Chief, Pathological Division,
Bureau of Animal Industry,
Dept* of Agriculture,
Washington, D* C*
Those attending the meeting included:
H* J. InsLinger,
Commissioner of Narcotics*
Mr* Walter H* Donovan,
Secretary, Florida Racing Commission,
Tallahassee, Florida*
Dr* James C* Munch,
Professor of Pharmacology, Temple University,
Philadelphia, Pa*
Mr. Charles E. Morgan,
City Chemist,
Miami, Florida*
Dr* J* G* Catlett, Veterinarian,
New York and Florida State Racing Commissions.
Dr. E* Stutzman,
Chemist, West Virginia Racing Commission,
Shepherd College,
Shepherdstown, W* Va.
Mr* C* C. Henri?,
Commission Chemist,
Vet* Racing Commission of Ohio,
Columbus, Ohio*
Dr* W* B. D. Penniman, Consulting Chemist,
Penniman & Browne,
Maryland Racing Commission,
Baltimore, Md*
Dr* Fredoick Kenney,
Head, New York Testing Laboratory.
Dr. T* C* Fitzgerald,
_ .
Commissioner, Vet* Racing Commission of Ohio,
Columbus, Ohio.
Mr. Lizio,
Chemist, New Hampshire Racing Commission*
Concord, N. H*
Dr. F* N* Strickland,
Rhode Island Racing Commission,
Providenc a , R * I *
Mr. R. H* Oyler,
w.^ntics
District Supervisor, Bureau of Narcoti
Detroit, Mich*
,
Dr# H# <F# Wollner,
Consulting Chemist,
Offiee of the Secretary,
Washington, D# C «,
It was also resolved that "the veterinarians and chemists
assembled form the necessary subcommittees to carry out the
necessary technical work in a cooperative manner to develop
standardization, through the Bureau of Narcotics pending the
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, September 18, 1934*
Press Release,
No • 3 “ 3 •
Methodsof taking saliva samples of horses to determine
whether or not any stimulating or depressing medication had
been administered to a horse prior to a race were discussed in
detail at a conference of chemists and veterinarians represent
ing the various state racing commissions yesterday in the office
V
of the Commissioner of Narcotcs, E* J* Anslinger, at the Trea
sury Department*
The purpose of the conference was to establish
uniform standards of sampling and analysis for use in all states
where racing is permitted*
Two sub-commit tees were formed by
the conference, one a committee on analysis composed of chemists,
and one a committee on
composed of veterinarians*
At the meeting it was resolved by those present that
wWe, the veterinarians and chemists representing the State Racing
Commissions of their respective states g a t h e r e d at this meeting,
request the Racing Commissions and the U*S* Treasury Department,
through the Bureau of Narcotics, separately and collectively,
to unite and assist in the formation of a Central Bureau in the
U*S. Treasury Department in Washington to direct and perform such
research studies as may be necessary to unify the procedure to be
followed by the Racing Commissions in each State, and that all
information so gained by these studies be distributed to the varn
ious Commissions***^
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Tuesday, September 18, 1934.
Press Service
No. 3 - 3
Methods of taking saliva samples of horses to determine whether or not any
stimulating or depressing medication had been administered to a horse prior to
a race were discussed in detail at a conference of chemists and veterinarians
representing the various state racing commissions yesterday in the office of the
Commissioner of Narcotics, H. J. Anslinger,
at the Treasury Department.
The
purpose of the conference was to establish uniform standards of sampling and
analysis for use in all states where racing is permitted.
Two sub-committees
were formed by the conference, one a committee on analysis composed of chemists,
and one a committee on sampling composed of veterinarians.
At the meeting it was resolved by those present that “We, the veterinarians
and chemists representing the State Racing Commissions of their respective states
gathered at this meeting, request the Racing Commissions and the U. S. Treasury
Department, through the Bureau of Narcotics,
separately and collectively, to
unite and assist in the formation of a Central Bureau in the U. S. Treasury De
partment in Washington to direct and perform such research studies as may be
necessary to unify the procedure to be followed by the Racing Commissions in
each State, and that all information so gained by these studies be distributed
to the various Commissions.“
It was also resolved that “the veterinarians and chemists assembled form
the necessary subcommittees to carry out the necessary technical work in a co
operative manner to develop standardization, through the Bureau of Narcotics
pending the establishment of the Central Bureau.”
Dr, H, J. Wpllner, Consulting Chemist in the Office of the Secretary of the
Treasury will be in charge of information regarding the progress and activities
of the subcommittees.
^ 2
Those attending the meeting included:
H. J. Anslinger,
Commissioner of Narcotics.
Dr. H. J. Wollnor,
Consulting Chemist,
Office of the Secretary,
Washington, D. C.
Mr. Walter H. Donovan,
Secretary, Florida Racing Commission,
Tallahassee, Florida.
Dr. James C. Munch,
Professor of Pharmacology, Temple University,
Philadelphia, Pa.
M r . Charie s E . Mo rgan,
City Chemist,
Miami, Florida.
Dr. J. G-. Catlett, Veterinarian,
New York and Florida State Racing Commissions.
Dr. E. Stutzman,
Chemist, West Virginia Racing Commission,
Shepherd College,
'Shepherdstown, W. Va.
Mr. C. C. Henrie,
Commission Chemist,
Vet. Racing Commission of Ohio,
Columbus, Ohio.
Dr. W. B. D. Penniman, Consulting Chemist,
Penniman & Browne,
Maryland Racing Commission,
Baltimore, Md.
Dr. Frederick Kenney,
Head, New York Testing Laboratory.
Dr. T. C. Fitzgerald,
Commissioner, Vet. Racing Commission of Ohio,
Columbus, Ohio.
Mr. Lizio,
Chemist, New Hampshire Racing Commission.
Concord, N, H.
Dr. F. N. Strickland,
Rhode Island Racing Commission,
Providence, R. I.
- 3 -
Mr, R. H. Oyler,
District Supervisor, Bureau of Narcotics,
Detroit, Mich.
Mr. Peter Valaer, Jr.,
Chemist, Treasury Department.
Dr. Raymond M, Hann,
Chemist, National Institute of Health,
U. S. Public Health Service,
Washington, D. C.
Dr. Harry W. Schoening,
Chief, Pathological Division,
Bureau of Animal Industry,
Dept, of Agriculture,
Washington, D. C,
>
TREASURY DEPa R O S M T
WASHINGTON
pm-'mm&Am
Pm
D
/hj-
v i / ' \ .1
-
release,
Tuesday, September l(L 1834.
I
r
(a #
Secretary of the Treasury Morgenthau announced today/that sub
script ioas for two-year Treasury notes of Series D-1956, maturing
m
September 15, 1956, which were offered only in exchange for Treasury
certificates of indebtedness maturing September 15, were divided among
the several Federal reserve districts and the Treasury as follows:
Federal Reserve
Districts
Total Subscriptions
Received and Allotted
Boston
Hew York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
Total
$ 14,275,500
552,307,500
10,027,000
12,988,000
4,247,000
7,408,000
40,616,000
15,521,500
10,422,000
6,156,000
3,964,300
5,051,000
1,142,000
$514,126,000
I
*
*
treasury
deparb™
t
Uashingt on
FOR R R L m S E , MORNING PAPERS,
R odnosday, September 19, 1934.
Press Service
No. 3 - 4
9-18-34,-
Secretary of the Treasury Morgentha;u announced today, (September
18) that subscriptions for two-year Treasury notes of Series D—1936,
maturing September 15, 1936, which were offered only in exchange for
Treasury certificates of indebtedness maturing September 15, were
divided among the several Federal reserve districts and the Treasury
as follows*
Federal Reserve
Districts
Total Subscriptions
Received and Allotted
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
$ 14,273,500
382,307,500
10.027.000
12.988.000
4,247,000
7,408,000
40.616.000
15,521,500
10.422.000
6.158.000
3,964,500
5.051.000
1.142.000
Total
$514,126,000
Ho awards have as yet been made on items of lockers and 4 & m m of
steel clothing and storage cupboards as several of the bids on these
items have been protested as not complying with the industry code*
Determination of these protests has not yet been
Hecovery Administration.
by the National
Further comparative savings are expected
with final disposal of these protests.
„_____
Bale o
1934 totaled
delivery of grasshopper bait, a
the Procurement Division for the
actual
•gs***8
savings effected
Procurement DivisionA during t'he S a t fiscal
____
________ _ ---- --- ---------*
Economies have likewise been effected when plans and specifica___ _____________
—
tions for building projects have been re-examined, revised and im
proved to accomplish desirable savings in construction.
Bs-appraisal
of plans and drawings Checked by the Procurement Division indicate
that to date savings of approximately $800,000 over original estimates
have been made possible through cutting down the total limit of cost
in a number of projects.
Bids were originally asked for scientific laboratory equipment
for the Agriculture Extensible Building April 23, 1934 and revised
dhly 2, 1934.
file low bid was $697,500.
Ho award was made ^
further bids were asked for and opened September 11, 1934.
The low
bid at the later date was $557,620, representing a saving of $139,880*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press(Release,
Wednesday* September 19, 1934
No. 3 - 5
Rejection of bids on various articles of steel furniture which
were opened May 1, 1934, and which were again invited and opened on
August 28, 1934, resulted in a saving to the Federal Government of
$450,000 for the first six months of the fiscal year 1935, the Pro
curement Division of the Treasury Department announced today.
The
lower price received at the later opening will represent, on the
basis of the volume of purchases made during the last six months of
the fiscal year 1934, the savings indicated.
The rejection of the original bids was because it was felt that
the prices quoted were excessive.
Steel desks,60« flat top, were
quoted at $40.50 in 1929; $39.75 in 1930; $37.00 in 1931; $33.30 in
1932; $27.80 in 1933 and $19.70 in 1934.
However, the same desks
were offered at $50.00, subject to quantity discounts, for the fiscal
year 1935.
Steel filing cases and card sections showed approximately
the same price trends.
When bids were opened August 28 last on upright and horizontal
filing sections, miscellaneous and small sections, transfer cases,
steel desks and steel tables, it was found that the quotations were
approximately 33-1/3$ under the bids of May 1.
the later bids on these items.as the.cast-
Awards were made on
treasury
department
Washington
FOB, IMMEDIATE RELEASE,
Wednesday, September 19, 1934*
Press Service
3 -
Rejection of bids on various articles of steel furniture which were opened
May 1, 1934, and which were again invited and opened on August 28, 1934, resulted
in a saving to Hie Federal Government of $450,000 for the first six months of the
fiscal year 1335, the Procurement Division of the Treasury Department announced
today.
The lower price received at the later opening will represent, on the
basis of the volume of purchases made during the last six months of the fiscal
year 1934, the savings indicated.
The rejection of the original bids was because it was felt that the prices
quoted were excessive.
Steel desks, 60n flat top, were quoted at $40*50 in 1929|
$39.75 in 1930; $37u00 ixr 1931; $33.30 in 1932; $27.80 in 1933 and $19.70 in 1934|
However, the same desks were offered at $50.00, subject to quantity discounts, fop
the fiscal year 1935*
Steel filing cases and card sections showed approximately
the same price trends.
When bids were opened August 28 last on upright and horizontal filing sec
tions, miscellaneous and small sections, transfer cases, steel desks and steel
tables, it was found that the quotations were approximately 33-l/3$ under the
bids of May 1.
Awards were made on the later bids on these items.
Ho awards have as yet been made on items of lockers and of steel clothing
and storage cupboards as several of the bids on these items have been protested
as not complying with the industry code.
- Determination of these protests has not
yet been made by the national Recovery Administration.
Further comparative sav
ings are expected with final disposal of these protests.
Economies have likewise been effected by the Public Works Branch since plans
and specifications for building projects have been re-examined, revised and im
proved to accomplish desirable savings in construction*
Re—appraisal of plans
*- 2 •*
and drawings checked hy the Procurement Division indicate that to date savings
of approximately $800,000 over original estimates have been made possiblo
through cutting down the total limit of cost in a number of projects.
Bids were originally asked for scientific laboratory equipment for the
Agriculture Extensible Building April 23, 1934 and revised July 2, 1934.
low bid was $697,500.
The
No award was made and further bids were asked for and
opened September 11, 1934.
' The low bid at the later date was $557,b20, repre-
senting a saving of $139,880,
-
Location
2
-
Name of Bank
Deposits
NEW JERSEY (Cont'd.)
First National Bank
Fir^t National Bank
Pleasantville
West New York
$
1,037,000.
3,74-6,000.
NEW YORK
Ozone Park, N.Y.C.
Phelps
Ozone Park N a t fl Bank
Phelps National Bank
1,403,000.
554,000.
First National Bank
1,087,000.
NORTH CAROLINA
Gastonia
OHIO
Paulding
Paulding National Bank
420 ,000.
First National Bank
362,000.
OREGON
Toledo
PENNSYLVANIA
1,009,000.
433,000.
5,079,000.
3,620,000.
7,810,000.
3 ,2 4 1 ,000 .
6,204,000.
1,459,000.
1,998,000.
First N. B. & Tr. Co.
First National Bank
Oil City Nat*l Bank
Natfl Bank of America at
Farmers N. B. & Tr. Co.
Penn N. B. & Tr. Co.
Reading N. B. & Tr* Co.
Citizens National Bank
First National Bank
Bedford
Gratz
Oil City
Pittsburgh
Reading
Reading
Reading
Shenandoah
Shenandoah
SOUTH DAKOTA
Garretson
First National Bank
235,000.
Citizens National Bank
First National Bank
423,000.
270,000.
Wellsburg National Bank
658,000.
TEXAS
Brownwood
White Deer
WEST VIRGINIA
Wellsburg
TOTAL -
.
0
38 Banks
$
52,896,000.
REORGANIZATION DIVISION
UNLICENSED NATIONAL BANKS WITH APPROVED
PLANS OF REORGANIZATION
_ _______ AS OF SEPTEMBER 8. 193A________
Location
Deposits
Name of Bank
ALABAMA
Russellville
First National Bank
\>
250,000.
CALIFORNIA
Glendale
Madera
First National Bank
First National Bank
906,000.
54-6,000.
First National Bank
Woodford Co* N. B*
First National Bank
First National Bank
National Bank of
2,117,000.
147.000.
4-3A, 000.
260.000.
ILLINOIS
Du Quoin
El Paso
Lanark
Percy
Shawneetown
251, 000.
INDIANA
Greenwood
Rensselaer
Citizens National Bank
Farmers & Merchants N. B.
215, 000.
193, 000.
KANSAS
Lynden
Oberlin
First National Bank
Oberlin National Bank
103, 000.
Crystal Falls National Bank
Iron County National Bank
First National Bank
4-85,000.
808,000.
290,000.
First National Bank
255, 000.
First National Bank
Labor National Bank
1 , 232, 000 .
270,000.
MICHIGAN
Crystal Falls
Crystal Falls
Manistique
NEBRASKA
Wymore
NEW JERSEY
Fort Le&
Paterson
3,086,000.
TREASURY DEPARTMENT
Washington
FOR RELEASE, SUNDAY MORNING
2>- ^
Cf_ (
The Comptroller of the Currency, J. F. T. 0*Connor, today
released the names, location and WHBBfc deposits of the 58 unlicensed
national banks which had received approved plans for reorganization as
of September 8.
These 58 banks, plus 7 which have no approved plans for
reorganization, are all that remain of the 1407 national banks which
were not licensed following the general banking holidays.
The deposits
involved in these 45 unlicensed national banks represent slightly less
than 5$ of the total involved in the 1407.
The list of the 38 banks which have approved plans for
reorganization follows:
TREASURY DEPARTMENT
Washington
FOR RELEASE, SUNDAY MORNING,
September 23, 1934.
Press Service
No# 3 - 6
9-19-34
The Comptroller of the Currency, J. F. T# 0 !Connor, today
released the names, location and deposits of the 38 unlicensed national
banks which had received approved plans for reorganization as of
September 8.
These. 38 banks, plus 7 which have no approved plans
for reorganization, are all that remain of the 1407 national banks
which were not licensed following the general banking holidays.
The
deposits involved in these 45 unlicensed national banks represent
slightly less than 3$ of the total involved in the 1407.
The list of the 38 banks which have approved plans for re
organization follows:
REORGAEIZATIOE DIVISION
11’ v'»vt
i ‘ "
UELICEESED NATIONAL BANKS T7ITH APPROVED
PLANS OP REORGAEIZATIOE
AS OP SEPTEMBER 8* 1934
Location
Deposits
Eame of Bank
ALABAMA.
Russellville
Pirst Eational Bank
$
250,000*
CALIFORNIA
Glendale
Madera
Piret Eational Bank
Pirst Eational Bank
906,000.
546,000*
Pirst Eational Bank
Eoodford Co* E* B.
First Eational Bank
First Eational Bank
Eational Bank of
2,117,000.
147.000.
434.000.
260.000.
251,000.
ILLIMOIS
DuQuoin
El Paso
Lanark
Percy
Shawneetown
IEDI AHA.
Greenwood
Rensselaer
Citizens Eational Bank
Farmers & Merchants E.B.
215.000.
193.000.
Pirst Eational Bank
Oherlin Eational Bank
103.000.
270.000.
Crystal Palls Eational Bank
Iron County Eational Bank
Firsi£ Eational Bank
485.000.
808.000.
290,000.
First Eational Bank
255,000.
First Eational Bank
Labor Rational Bank
1.232.000.
3.086.000.
KANSAS,
Lynden
Oberlin
MICHIGAN
Crystal Palls
Crystal Palls
Manistique
NEBRASKA
Wymore
ESE JERSEY
Port Lee
Paterson
- 3 Location
Deposits
Name of Bank
M r JERSEY (Cont*d.)
Pleasantville
West New York
First National Bank
First National Bank
$
1,037,000.
3,746,000.
NET YORK
Ozone Park, N.Y.C.
Phelps
Ozone Park Natl Bank
Phelps National Bank
1,403,000.
554,000.
First National Bank
1,087,000.
NORTH CAROLINA
Gastonia
OHIO
Paulding
Paulding National Bank
420,000.
First National Bank
362,000.
OREGON
Toledo
PENNSYLVANIA
Bedford
Gratz
Oil City
Pittsburgh
Reading
Reading
Reading
Shenandoah
Shenandoah
First N« B. & Tr. Co.
First National Bank
Oil City N a t 1! Bank
N a t !l Bank of America at
Farmers N. B. & Tr. Co.
Penn N.. 3. & Tr. Co.
Reading N. B. & Tr. Co.
Citizens National Bank
First National Bank
1,009,000.
433,000.
5,079,000«
3,620,000.
7,810,000.
3,241,000.
6,204,000.
1,459,000.
1,998,000.
SOUTH DAKOTA
Garretson
First National Bank
235,000.
Citizens National Bank
First National Bank
423,000.
270,000.
Well strung National Bank
658,000.
TEXAS
Brownwood
White Deer
WEST VIRGINIA
Wellsburg
TOTAL
38 Banks
$ 52,896,000
TREASURY DEPARTMENT
Washington
Press Service
?
FOR IMMEDIATE RELEASE,
Thursday, September 20, 1934,
Seizures of liquor for the violation of Customs
laws during August
numbered 440, it was announced by the Bureau of Customs today.
The number of liquor seizures in August compares with 422 during the
previous month and with 2,147 during August, 1933.
August seizures included
3,966 gallons of distilled liquors and wines, 42 gallons of beer and 967 gal
lons of alcohol.
The gallonage of distilled liquors and wines was greater
than that reported for the previous month (3,203), but considerably smaller
amounts of beer and alcohol were seized in August than during the previous
month, when 581 gallons of beer and 8,695 gallons of alcohol were reported.
The increase in the number of gallons of distilled liquors seized was
due to two large seizures at Hew York during August which aggregated 2,923 gal
lons,
July seizures of alcohol, on the other hand, consisted largely of two
seizures, one in Maine and the other at Hew Orleans, which amounted to 4,146
gallons and 3,177 gallons, respectively*
Of the vehicles seized for the transportation of liquor during August there
were 22 autonnbiles with an aggregate value of $3,657 , 4 boats valued at $407,
and 1 airplane valued at $1,000.
Most of the seizures during August were made either along the Mexican
border or the Atlantic coast.
Since most of the states adjacent to Mexico
still prohibit the sale of legal liquor, attempts at liquor smuggling show
little change from pre-repeal days.
During the past month 230 liquor seizures
were made in the four Customs districts bordering on Mexico as compared with 214
-
2
in July and 249 during August, 1933*
-
Along the Atlantic coast 140
seizures were made during August as compared with 130 in July and 143
a year ago*
Seizures along the Canadian "border, on the other hand,
dropped from 1,553 in August, 1933, to 30 during the past month and
those on the Pacific coast from 161 to 8 .
The following table lists by districts and states seizures of liquor
for violation of Customs
during August:
laws by all agencies of the Federal Government
J
1
S|
- 3 SEIZURES OF LIQUOR FOR VIOLATION OF CUSTOMS LAWS
I
DURING AUGUST, 1934.
Liquor
Seizures
CANADIAN 30RDER:
Maine and New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth and Superior
Dakota
Montana and Idaho
Washington
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
Georgia
GULF COAST:
Florida
Mobile
New Orleans
Sabine
Galveston
7
1
2
11
—
—
129
—
Boats
No. Value
—
_
3 $ 987
1 $ 250
3
4
—
1
mrn
1
-
-
-
-
-
3
7
-
-
-
-
~
-
6
2
-
-
-
A
—
-
5
1
1
-
-
-
13
63
33
1
120
A
—
12 1
4
35
73
294
22
125
3,368
14
10
2
*
3
3
2
1
21
—
133
35
—
—
—
_
2
$4
-
143
—
-
—
-
-
-
-
1 $1,0 0 0
4 SI,680
-
-
-
-
m
-
1
-
-
-
-
PACIFIC COAST:
San Francisco
Los Angeles
1
1
7
3
3
-
OTHER DISTRICTS:
4
12
-
547**
2
440
3,966
42
967
4 $407
1 $1,000
(plane)
* not reported
** Puerto Rico
2 $ 175
2 $ 58
10 $ 507
3
-
6
_
"
*
*
—
—
4
Note:
Autos
No . Value
—
—
(piane)
-
Total ...............
a
______ Gallons______
Liquor Beer Alcohol
mm
-
*
mm
$403**
_
-
-
-
—
22 $3,657
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
n-AXP*
Friday, September 81, 1934.
^
Secretary of the Treasury Horgenthau announced last
Big^t (September 80, 1934) that the subscription books will
eloee for the current exchange offering of 2-1/* percent
four-year Treasury notes of Series D-1938 at the olose of
business Monday, September 24, 1934.
Any subscription
received after the close of business on Monday will be
rejected.
The subscription books for the 3-1/4 percent Treasury
bonds will remain open until further notiee for the exchange
of Fourth Liberty Loan bonds called for redemption on
Ootober 15*
^Ui^r^CJL
^ ^ g'
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING PAPERS,
Friday, September 21,-1934,:
Press Service
No 4 3 - 8
Secretary of the Treasury Morgenthau announced last night
(September 20, 1934) that the subscription books will close for
the current exchange offering of 2 -l / 2 per cent four-year
Treasury notes of Series D-1938 at the close of business Monday,
September 24, 1934,
Any subscription received after the close
of business on Monday will be rejected#
The subscription books for the 3—1/4 per cent Treasury bonds
will remain open until further notice for the exchange of Fourth
Liberty Loan bonds called for redemption on October 15#
Governmental Corporations and Credit Agencies
of the United States
( m millions of dollars)
: Proprietary Interests Owned
;
by the United states
July 31, 1934
I
Increase (+)
June 30, 1934 )ecrease (-)
Financed wholly from Government Funds:
Commodity Credit Corporation....
Export - Import Banks..........
Publie Works Administration.....
Regional Agricultural Credit Cor
porations ....... ..........
Production Credit Corporations...
Other (including crop loans)•
Total Group I..••.
..... .
$2,328
163
14
155
$2,452
206
14
136
-
$124
43
f
19
52
no
3U
51
106
273
+
*
+
1
4
38
$3,133
$5,155
$3,238
-
105
162
100
196
112
82
164
2
150
161
85
197
111
81
144
1
150
4
+
f
+
+
*
1
15
1
1
1
20
1
968
930
+
$4,101
$4,168
If 0
II
and partly from Private Funds:
Federal Land Banks...... .......
Federal Intermediate Credit Banks.
Federal Farm Mortgage Corporation«
Banks for Cooperatives.... •••*•«
Home Loan Banks..... ..... .....
Home Owners* Loan Corporation.....
Total Group II...
GRAND TOTAL.
Accounts and Deposits
[
W
Hi 0
38
67
- 2 -
. f S a s / K t It consists of the Government's share of the capital
stock and surplus of these agencies*
An accompanying-table lists assets and liabilities of
e
L
^
;^ ^
Government agencies* classified as to agencies and as to the
A
character of the obligations.
The following tabulation shows in millions of dollars a
comparison of proprietary interest as between July 31, 1934 and
June 30, 1934:
TREASURY DEPARTMENT
Washington
Release,
Press Service
No. 3 ~ y
Vyvjfcr-y <0fiy
1 \~WSecretary of the Treasury Morgenthau today made public a
combined statement of assets and liabilities of Governmental
corporations and credit agencies of the United States as of July 51,
1934.
In connection with his radio address on Government finances
on August 28th, the Secretary made public a similar report as of
June 30, 1934, the close of the fiscal year, and at that time he
announced that reports of this character would be issued monthly.
The report issued today shows in the case of agencies fi
nanced wholly from Government funds a proprietary interest of the
United States as of July 31, 1934, of #3,133,000,000, which is a
decrease of #105,000,000 from the proprietary interest shown at the
close of the fiscal year, June 30th.
In the case of these wholly
owned Government agencies the proprietary interest represents the
excess of assets over liabilities^ f
these agenoiop..
M -frh roopeet - be feie Governments proprietary interest in
agencies financed partly from Government funds and partly from private
funds the prqpj.iuUu.jf in terest of the Government as of July 31, 1934
was #968,000,000, an increase of #38,000,000 over the Government*s inter
est at the close of the fiscal year, June 30th.
In the case of these
partly owned Government agencies the Governments proprietary interest
is the excess of assets over liabilities
less the privately owned interest in the assets
v
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, September 24, 1934.
9-21-34.
Press Service
No. 3 - 9
Secretary of the Treasury Morgenthau today made public a combined state
ment of assets and liabilities of Governmental corporations and credit agencies
of the United States as of July 31, 1934.
In connection with his radio address
on Government finances on August 28th, the Secretary made public a similar re
port as of June 30, 1934, the close of the fiscal year, and at that time he an
nounced that reports of this character would be issued monthly.
The report issued today shows in the case of agencies financed wholly from
Government funds a proprietary interest of the United States as of July 31, 1934,
of $3,133,000,000, which is a decrease of $105,000,000 from the proprietary
interest shown at the close of the fiscal year, June 30th.
In the case of these
wholly owned Government agencies the proprietary interest represents the excess
of assets over liabilities.
The Governments proprietary interest in agencies financed partly from
Government funds and partly from private funds as of July 31, 1934, was
$968,000,000, an increase of $38,000,000 over the Governments interest at
the close of the fiscal year, June 30th.
In the case of these partly owned
Government agencies the Governments proprietary interest is the excess of
assets over liabilities, less the privately owned interest in the assets.
It consists of the Governments share of the capital stock and surplus
of these agencies.
An accompanying table lists assets and liabilities of Government agencies,
as of July 31, 1934, classified as to agencies and as to the character of the
obligations.
The following tabulation shows in millions of dollars a comparison of
proprietary interest as between July 31, 1934 and June 30, 1934;
~ 2 ~
Governmental Corporations and Credit Agencies
of the United States
(In millions of dollars)
: Proprietary Interests Owned
.
hy the United States
.Tnlv 51. 1934; June 30, 1934
l
II
increase
ecrease (-)
Financed wholly from Government Funds:
Reconstruction Finance Corporation*•••
Commodity Credit Corporation..'......
Export - Import Banks....... ........ .
Public Uorks Administration.........
Regional Agricultural Credit Cor
porations. « • • • • • » • • • * • • • • • • • • « • •
Production Credit Corporations......
Other (including crop loans).........
$2,328
163
14
155
$2,452
206
14
136
—
52
110
311
51
106
273
4
Total Group I . ................«•
$3,133
$3,133
$3,238
+
t
$124
43
0
19
1
4
38
105
Financed partly from Government Funds
and partly from Private Funds:
Federal Land Banks.
Federal Intermediate Credit Banks*....
Federal Farm Mortgage Corporation.....
Banks for Cooperatives............ .
Home Loan Banks............ .
Home Owners* Loan Corporation.... .
Federal Savings and Loan Associations.
Federal Deposit Insurance Corporation^
Total Group II... ....... .
GRAHD TOTAL.....................
162
100
196
112
82
164
2
150
161
85
197
111
81
144
1
150
**•
4
1
15
X
+
J>
.
•|>
•J*
}
968
930
+
$4,101
$4,168
1
20
1
0
38
67
COMBINED STATEMENT OF ASSETS AND LIABILITIES OF GOVERNMENTAL CORPORATIONS AND
CREDIT AGENCIES OF TEE UNITED S T A T E S , AS OF JULY 3 1 , 1934, COMPILED FPOM REPORTS
RECEIVED FROM ORGANIZATIONS CONCERNED.
SUMMARY
.
ASSETS
LOANS
CASH
Reconstruction Finance Corporation .
b $2,543,873,063
Commodity Credit Corporation . . . .
160,504,514
Export-Import Banks
. . . . . . . .
1,644,818
Public Works Administration .......
153,577,545
Regional Agricultural Credit Corporations
50,550,569
Production Credit Corporations . . .
- - Other (including crop loans) . . . .
263,816,736
Total, Group I .........
3,173,973,245
II.
a
1NVESTME NTS
j SECURITIES |V
I GUARANTEED!
by U. S . |
j
U. S.
! SECURITIES
$11,050,271
178,247
12,229,151
489,376
2,568,408
10,185,859
28,236,419
—
- - - - - “ - - $1,406,838
- - -
64,937,731
1,406,838
LIABILITIES
ALL OTHER
—
—
- - - - - - - - - - - - - - - - $4,000,000 i $96,715,525
—
- - -
RESERVES
NOT GUARANTEED
by
UNITED
STATES
GUARANTEED
by
OTHER
TOTAL
UNITED
STATES
________________ ................................... __________________
$43,738,637
2,918,317
10,544
1,285,807
5,961,277
571,470
136,141,146
and
a
EXCESS of
ASSETS OVER
LI ASILITIES
TOTAL
PROPRIETARY INTERESTS
PR 1VATELY
OWNED
a
OWNED by
UNITED
STATES
____________
- - - - -- - - - - - - —
96,715,525
190,627,198
$2,598,661,971
163,601,078
13,884,513
155,352,728
59,086,254
112,879,692
428,194,301
3,531,660,537
137,112,696
- - 40,492,188
- - - . 347,193,840
52,020,000
2,450,000
- - 9,371,864
- -- * - - - - -
- - -
- - -
158,096,402
4,065,146
2,762,441
1,210,091
538,941
18,898,823
2,277,300
2,063,376
2,164,209,724
294,504,163
790,516,096
112,863,279
105,406,570
1,076,301,993
2,277,300
329,169,698
59,360,659
- - 548,486,475
- - ---£, 288,803,460
- - -
1,849,309,826
194,054,262
45,915,619
62,990
3,619,384
d 624,113,229
- - 10,460,693
1,908,670,485
194,054,262
594,402,094
62,990
3,619,634
912,919,689
---10,460,693
255,539,239
100,449.901
196,114,602
112,800,239
101,786,886
183,742,304
2,277,300
318,709,005
93,470,825
- -- - f 1,145,075
g 19,892,734
- - - - 168,709,005
238,996,748
349,043,840
190,512,520
4,875,609,423
896,650,594
2,727,539,303
3,624,189,897
1,251,419,526
283,217,039
162,068,414
100,449,901
196,114,602
111,655,214
81,894,152
163,742,304
2,277,300
150,000,000
968,201,887
242,990,748 ! 446,359,365
381,139,718
8,407,269,960
1,138,879,320
2,883,857.687
4,022,737,007
4,384,532,953
283,217,639
4,101,315,314
FEDERAL
FEDERAL
INTERMEDIATE
CREDIT BANKS
4,000,000
DISTRIBUTION of U. S. INTERESTS
1- -..... ........... 1
CAPITAL
1NTER-AGE NCY
SURPLUS
STOCK
1NTERESTS
$242,228,726
- - - - - - - - - - —
$28,852,525
310,829
314,880
-- 6,902,240
2,675,181
117,262,729
$271,081,251
310,829
314,880
- - 6,902,240
2,675,181
117,262,729
$2,327,580,720
163,290,249
13,539,633
155,352,728
52,184,014
110,204,511
310,931,572
242,228,726
153,318,384
398,547,110
3,133,113,427
—
$2,327,580,720
163,290,249
13,569,633
155,352,728
52,184,014
110,204,511
310,931,572
3,133,113,427
$500,000,000
3,000,000
13,750,000
e 253,777,997
44,500,000
110,000,000
e2,147,187,985
3,072,215,982
$55,189,495
891,898
-180,367
55,715,517
5,181,928
123,019,675
70,000,000
200,000,000
110,000,000
81,445,700
174,000,000
2,277,300
150,000,000
44,230,667
30,449,901
-3,885.398
1,655,214
448,452
-10,257,096
- - -
-5,181,928
910,742,675
62,641,140
3,982,958,657
118,356,657
-390,020
204,511
$1,772,391,225
159,398,351
- 98,425,269
8,074,034
-1,836,256,413
FINANCED PARTLY FROM GOVERNMENT FUNDS
AND PARTLY FROM PRIVATE FUNDS:
Federal Land Banks ............ ,
Federal Intermediate Credit Banks
Federal Farm Mortgage Corporation
Banks for Cooperatives ........
Home Loan Banks
.............
Home Owner's Loan Corporation . .
Federal Savings and Loan Associations
Federal Deposit Insurance Corporation
Total, Group II . . . . . .
1,728,453,511
201,587,271
429,908,276
21,492,993
85,722,881
1,003,295,359
- - - - -
Grand Total
3,470,430,291
74,234,475
14,801,570
10,652,139
9,003,545
7,314,738
54,467,811
- - 98,723,979
269,198,283
- - 227,782,343
356,797,701
6,644,433,536
334,135,994
358,204,599
66,312,640
33,557,982
- - 26,680,650
2,458,140
- - -
—
— —
- — - - - - _
-- -
—
-
5,181,928
—
0 E T A 1I S
1
-
---
■
ASSETS:
Loans Banks
R a i l r o a d s ...........
Insurance Companies ........
Credit Unions .............
Building and Loan Associations
Live-stock Credit Corporations
Mortgage Loan Companies . . .
Agricultural Credit Corporations
Mortgage Loans ...........
Crop, Live-stock and Commodity Loans
Cooperative Associations . .
States, Territories, etc. .
Joint-stock Land Banks
. ,
Federal Land Banks .......
Other
.................
Subtotal
FINANCED WHOLLY F^IOM GOVERNMENT FUNDS
COMMODITY
WORKS i REGIONAL
PRODUCTION
EXPORT-IMPORT j PUBLIC
CREDIT
AOMINISTRA- j AGRICULTURAL
CREDIT
BANKS
CORPORAT1ON
|
TION
;; CREDIT
CORPORATIONS
___ L.
. ____
-i--------------- ,| CORPORATIONS L
RECONSTRUCTION
F 1NANCE
CORPORAT1ON
$587,641,724
354,447,418
48,494,267
390,216
36,893,378
1,643,082
201,239,954
7,346,369
---298,542,456
8,597,808
124,950,704
126,641,843
1,796,859,219
i
d
OTHER
$37,711,041
$84,279,0001
$50,553,569
$160,504,514
$1,644,818______ - ______________
1,644,818
153,577,543
50,556,569
land
TOTAL
8ANKS
]
1
1
$587,841,724
476,437,459
48,494,267
390,216
36,893,378
1,643,082
201,269,954
7,346,369
---211,061,083
226,105,695
367,841,001
8,597,308
124,950,704
_354.392,356
263,816,736
2,426,959,401
69,298,545
160,504,514
|'
Mi
FINANCED PARTLY FROM GOVERNMENT FUNDS AND PARTLY FROM PRIVATE FUNDS
; HOME LOAN
HOME OWNERS' ! FEDERAL
MORTGAGE
j COOPER AT IVES
LOAN
BANKS
SAV 1NGS and
CORPORATION
| CORPORATION
LOAN
i
1
l
! ASSOCIATIONS
______
! FEDERAL FARM j BANKS FOR
J
FEDERAL
DEPOSIT
INSURANCE
CORPORATION
$35,715,593
$1,728,453,511
$191,481,387
10,105,884
1,728,453,511
201,537,271
74,234,475
14,801,573
$429,845,176
03,100
I
j
TnTA|
ivial
$85,715,593
7,288
$1,003,295,359
$3,161,601,334
191,544,487
31,598,877
3,470,460,291
$21,492,993
429,908,276
21,492,993
85,722,881
1,003,295,359
10,652,139
7,462,743
1,540,802
3.500,427
3,814,311
54,431,361
36,450
Preferred stock, capital notes, and debentures?
Banks and Trust Companies
747,013,844
747,013,844
...........
Cash:
With rJ . S . Treasury
On hand and in 3anki
In transit . . . .
In trust funds . .
Investments:
U. 3. Securities
...............
Obligations guaranteed by U. 3:
Federal Farm Mortgage Corporation
Home Owners' Loan Corporation . .
.> Federal .land bank bond3 . . . . . .
Intermediate Credit Bank Securities
Production Credit Associations Class A stock
. . . .
Accounts Receivable (tax advances, etc.)
Accrued Interest Receivable
.........
Other Repayable Assets ............. ,
Real Estate and Business Property . . . ,
Real Estate held for Sale
....... .
Other Assets ....................... .
Total Assets
1,213,140
9,837,131
178,222
25
12,229,151
489,376)
1 1
—
—
~
- - -
LIABILITIES:
Bonds, Notes and Debentures:
Obligations guaranteed by U. S.
All O t h e r ..................... .
Acrued Interest:
Guaranteed by U. -S. . . . . . . . .
All Other . . . . . . . .........
Other Liabilities (Inc. trust accounts)
Reserves:
Legal Reserves . .................
Reserve for Uncollectible Items . .
Other . . . . . . . . ...........
Total Liabilities
230,014,666
12,214,060
9,394
28,743,131
—
1,406,838
42,952,850
20,214,407
130,687
1,639,787
1,406,838
66,312,640
33,557,982
4,000,000
137,112,696
40,492,188
- - -
26,086,650
2,458,148
9,371,864
347,193,840
29,523,900
29,523,900
174,770,649
94,427,614
—
—
227,782,343
356,797,761
52,020,000
—
—
98,723,979
—
—
—
229,624,884
9,371,864
347,193,840
2,450,000
58,041,477
41,907,586
—
2,450,000
2,316,809
590,155
9,489
1,864
2,598,661,971
26,407,804
1,828,815
4,000,000
: ; f
—
8,546,072
1,339,787
—
—
•4
40,463,476
2,762,049
513,112
X
2,435,157
2,504
130,687
163,601,078
—
20
2,077
43,132
2,027
359,208
883,467
5,020
13,884,513
—
155,352,728
—
51,346,845
21,921,713
2,953,212
1,038,021
107,227
2,607,312
5,683
824,906
430,643
3,625,510
13,070,022
2,068,969
4,399,483
77,850,443
2,577,918
2,184,209,724
21
47,902
38,429
92,271
2,203,291
120,407
70,892
294,504,163
790,516,696
341,073
112,803,279
10,027
428,194,301
67,191,625
9,580,270
47,992,941
3,352,204
15,347,781
3,498,532
110,865,470
3,531,660,537
97,704,697
230,014,666
97,764,697
59,170,000
1,539,565,220
187,415,000
139,481
1,645,500
19,005,706
12,214,060
148,875
56,849,590
190,359
11,157,454
294,947,480
1,055,576
3*747,470
6,902,240
890,200
2,675,181
8,811
483,455
117,262,729
398,547,110
1,908,670,485
194,054,262
594,402,094
100,449,901
656,937
4,885,410
177,873
98,193
142,864
59,080,254
6,902,240
242,130
69,197
161,925
112,879,092
8,854,402
14,216,375
2,516,872
110,552,997
—
—
—
310,829
57,191,625
68,911
271,437
—
—
100,000
—
72,750
271,081,251
310,829
314,880
—
8,811
1,546,405
544,415,000
105,408,570
—
4,071,475
1,093,861
2,545,811
45,915,619
474,000
6,901,804
77,850,443
5,751,210
1,076,661,993
2,277,300
329,169,698
4,875,609,423
284,609,975
h 613,564,600
—
—
4,193,485
7,742
2,346,212
710,058
3,619,684
196,114,602
112,800,289
1,145,075
100,449,901
190,114,602
111,655,214
101,786,886
19,892,734
81,894,152
9,841,136
888,194,975
2,340,544,820
8,455,619
12,213,0-30
364,836,368
912,919,689
- - -
10,460,693
1,657,275
5,006,731
3,221,079
3,624,189,897
163,742,304
2,277,300
163,742,304
2,277,300
318.709.005
168.709.005
150,000,000
1,251^419,520
283^217,639
968,5201,887
2,520,920
55,248
82,990
—
8,030,709
563,414
—
1,836,216
2,277,300
—
619,557
Excess of Assets over Liabilities,
exclusive of inter-agency transactions
Privately owned Interests ..............;
i
U. S. Government Interests .............
2,327,580,720
163,290,249
13,569,633
155,352,728
52,184,014
110,204,511
310,931,572
3,133,113,427
2,327,580,720
163,290,249
13,569,633
155,352,728
52,184,014
110,204,511
310,931,572
3,133,113,427
255,539,239
93,470,825
162,068,414
Distribution of Government Interests:
Capital Stock................... . .
Surplus
........ ..................
Inter-agency Interests (net)
500,000,000
55,189,495
1,772,391,225
3,000,000
891,898
159,398,351
13,750,000
-180,367
e253,777,997
1 1 0 ,000,000
204,511
£ 2,147,187,985
123,019,675
44,230,667
-5,181,928
200,000,000
-3,885,398
1 1 0 ,000,000
1,655,214
81,445,700
448,452
174,000,000
-10,257,096
2,277,300
150,000,000
-1,836,256,413
3,072,215,982
55,715,517
5,181,928
70,000,000
30,449,901
-98,425,269
44,500,000
-390,020
8,074,034
910,742,675
62,641, 140
-5,181,i928
2,327,580,720
163,290,249
13,509,633
155,352,728
52,184,014
110,204,511
310,931,572
3,133,113,427
182,068,414
100,449,901
196,114,602
111,055,214
81,894,152
163,742,304
2,277,300
150,000,000
968,201,8871
a
Exclusive of inter-agency assets and liabilities (except bond investments),
b
c
Includes $747,013,844 preferred stock of banks.
Exclusive of $749,402 accrued interest guaranteed by United States for which an equal
amount of cash has been deposited with Treasury to cover payment.
Includes $613,504,600, 4% bonds, which are exchangeable until October 27, 1934 for 3% bonds
guaranteed by United States.
d
TREASURY DEPARTMENT,
OFFICE OF THE SECRETARY.
§. Non-stock.
f Includes $13 ,9 7 5 proportionate share of earned surplus,
g
h
Includes $108,933 proportionate share of earned surplus.
Represents 4% bonds which are exchangeable until October 27, 1934 for 3% bonds
guaranteed by United States.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
September 24, 1934*
Press Service
No. 3 - 10
ACTIVITIES Of INVESTIGATORS.
ALCOHOL TAX UNIT, POR WEEK ENDING SEPTEMBER 15, 1934.
(Corrected statement based on complete weekly reports
of investigators)
Dist.
No.
1
States
Conn.
Maine
Mass.
N. H.
R. I.
Vt.
Stills
Seized
Capacity
2
450
1
1,000
Cals, of
Spirits
Seized
10
53
162
Cals, of
Mash
Seized
Autos &
Trucks
Seized
$
9,200
7,500
Value of
Property
Seized
5
300
180
2,410
Arrests
5
5
8
1
TOTAL
3
1,450
225
16,700
5
$ 2,890
19
2
N. Y.
15
3,768
666
43,946
5
$13,310
26
3
Penn.
8
1,295
605
18,480
3
$ 3,734
13
4
Del.
N. J.
8
3,219
795
42,700
2
$ 2,100
7
TOTAL
8
3,219
795
42,700
2
$ 2,100
7
D. C.
Md.
N.Car.
Va.
W. Va.
6
16
12
4
625
3,035
1,402
195
20
78
137
337
129
5*730
38,980
7,125
725
8
5
2
4
6
$ 1,150
2,750
891
2,425
730
11
19
13
11
27
TOTAL
38
5,257
701
52,560
25
$ 7,946
81
Ala.
51 a.
Ca.
S, Car.
19
6
23
7
2,150
1,400
2,220
760
211
1,426
209
826
7,100
6,700
30,985
6,300
5
1
1
6
$ 1,604
8t618
3,586
2,052
14
8
21
18
TOTAL
55
6,530
2,672
51,085
13
$15,860
61
Ky.
Tenn*
19
10
1,591
968
167
333
10,670
17,130
2
4
$ 2,398
3,305
29
31
TOTAL
29
2,559
500
27,800
6
$ 5,703
60
- 2 -
List.
No.
8
q
10
11
States
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
7
8
1,840
950
1,004
545
5,215
14,750
1
3
$
1,710
1,851
6
11
TOTAL
15
2,790
1,549
19,965
4
$
3,561
17
111.
Ind.
Wise.
6
3
5
545
110
790
250
207
724
6,500
1,700
31.345
3
3
2
$
4,089
1,200
14. 895
19
13
9
TOTAL
14
1,445
1,181
39,545
8
$ 20,184
41
La.
Miss.
Texas
9
16
13
450
1,150
1,250
150
165
670
2,950
3,430
9,800
$
6
16
493
1,294
4,278
17
29
54
TOTAL
38
2,850
985
16,180
22
$
6,065
100
Ark.
Kansas
Mo.
Okla.
8
4
6
11
1,180
187
850
1,295
40
362
98
233
4,125
1,250
16,610
9,130
$
1
6
4
805
402
6,449
2,040
15
6
24
25
TOTAL
29
3,512
733
31,115
11
$
9,696
70
3
4
250
560
775
2,175
2
1
$
768
952
10
15
1
1
24
136
174
2
3
4
TOTAL
8
834
319
3,070
3
Ariz.
Colo.
N.Mex.
Utah
Wyo.
3
2
1
1
95
120
30
20
39
14
35
3
5
150
650
1
2
TOTAL
7
265
96
800
Calif.
Hawaii
Nev,
2
7
225
250
251
84
282
TOTAL
9
475
Idaho
Mont.
Ore.
Wash.
4
1
3
TOTAL
GRAND TOTAL
13
14
15
Arrests
Mich.
Ohio
Iowa
Minn.
Net).
N. Dak.
S. Dak*
12
Value of
Property
Seized
A
106
1
$
1,826
31
$
445
260
30
55
103
2
8
3
1
2
5
$
893
16
6,100
2,032
2
1
$
1,100
40
800
7
7
1
617
8,132
3
$
1,940
15
560
25
165
45
157
80
1,850
80
950
1
2
4
$
323
548
847
12
4
5
8
750
282
2,880
7
$
1,718
21
284
36,999
11,926
374,858
$ 97,426
578
120
1
1...
119
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
September 24, 1934,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1935)
Week ended September 21, 1934:
San Francisco.••••••......... .
95,966.10 fine ounces
Denver...............................
7.075.00 n
»
Total for week ended Sept. 21.... 103,041.10 M
"
Total receipts through Sept. 21, 1934..12,432,000.00 ”
n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 21, 1934:
Philadelphia
New York
San Francisco
Denver
New Orleans
Seattle
Total for week ended S^pt. 21
Total receipts through Sept. 21, 1934.
302,489 fine ounces
tt
7,616,225 tt
n
n
234,668
t
t
t
t
276,621
t
t
t
t
796
t!
tt
5.121
t
t
t
t
8,435,920
t
t
t
t
88,419,281
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended September 19, 1934:
Imports
Philadelphia.............. . $ 17,255.91
New York.
.... •••••••..
706,000.00
San Franc!
............
236,051 •81
Denver.. ••••••••...... .
12,286.00
New Orleans.... .
21,069.73
Seattle............... •••••
----Total for the week ended Sept.l9$992,663.45
„ y_
Secondary
$298,864.67
149,340.48
21,129.00
63,731.99
35.115.59
$566,179.73
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks?
Gold Coin
Week ended Sept. 1 9 ..........••••
$
29,403.64
Received previously.••••••......
29.054.165.50
Total to Sept. 19, 1934....... ..
$29,063,568.94
Received by Treasurers Office:
Week ended Sept. 1 9 .... •••••••••
Received previously.... .
Total to Sept. 19, 1934..........
NOTE:
$
$
----251.894.00
251,894.00
OFFICE:
Gold Certificates
$
739,420.00
69.849.860.00
$70,589,280.00
$
12,300.00
1.725.000.00
$ 1,737,300.00
Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
PURCHASES OF GOVERNMENT SECURITIES FOR INVESTMENT ACCOUNTS:
Total for the week............... ......... $8,843,000.00
New Domestic
$
258.06
470.800.00
1,068,672.71
665.076.00
1,826.78
544.674.50
$2,551,307.85
TREASURY DEPARTMENT
Washington
September 24,y 1934,
M E » A H D U M FOR THE PRESS:
RECEIPTS OF SILVER BY THE MIHTS:
(Under Executive Order of December 21, 1933)
Week ended September 21, 1934:
San Francisco..•.................. .
95,966,10 fin® ounces
Denver.... ......... ............... .
7,075,00
*
*
Total for week ended Sept, 21,•••
103,041,10
Total receipts through Sept. 21, 1934,, 12,432,000,00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 21, 1934:
Philadelphia.............. ........ ..
Hew York.•••••....... .
San Francisco..... .................
302,489 fine ounces
7,616,225
234,668
«
276’®?g
«
Denver......... .....................
Hew Orleans..,,..,....... ....... .
„
c ip l
1!
S G&'fc11 • • • • • • • • •• ••••
V .. .
Total for week ended Sept. 21..•• 8,435,920
Total receipts through Sept. 21, 1934., 88,419,281
11
„
H
RECEIPTS OF GOLD BY THE MIUTS AHD ASSAY OFFICES:
Week ended September 21, 1934:
Philadelphia...............
New York .
............
San Prancisco..............
D e n v e r . ! . ! ! ! !
Denver...., • , ,,
______ Imports------ S f g f f i g ---- Hew SP§g|fej=|$ 17,255.91
$298,864.67
$
2o8.06
706,000.00
----470,800.00
236,051.81
149,340.48
1,068,672.71
12,286.00
21,129.00
665,076.00
731.99
1,826.78
! e! ° f reanS................
VotTZ Z ' ^ r e n ^ t .
33*113.59
21
$992,663745
$566,179^
344,674.30
$2,551,307.85
GOLD RECEIVED BY FEDERAL RESERVE BARES AHD THE TREASURER1S OFFICE;
(Under Secretary* s Order of December 28, 1933)
Received by Federal Reserve Banks; _____ Gold Coin_----- _____— &ol^
"~~
W ap V pnripr) Sent 19
..... •....
$
29,403.64
$
7^9,420.00
R
. * ,
oq
iRR-.sn
69,849,860.00
Received previously........ .
,
•. * ■ OQO TUT
Total to Sept. 19, 1934..........
$29,063,568.94
$70,589,280.00
Received by^Treasurer's Office:
seek ended Sept. 19.............
Received previously..,...... .
Total to Sept. 19, 1934..........
HOTE:
^
$
$
_____
sqA nn
2 bi,a^.uu
251,894.00
Gold bars deposited with the Hew York Assay Office to
the amount of $200,572.69 previously reported.
PURCHASES OF GOVERHMEHT SECURITIES FOR IM E S T M E H T ACCOUNTS.:
Total for the wed£•••••........ .
$8,8^3,000.00
$
12,300.00
1.725,000.00
. .’
*
'rr
$ 1,737,300.00
- 2 -
’’The Treasury takes the view that this guaranty is a guaranty of payment —
not merely of collection — with the effect that should your corporation fail
to pay upon demand, when due, the principal of, or interest on, these bonds, the !
United States would be obligated to make such payments immediately without requiri J
the respective holders first to proceed against your corporation,
"The Attorney General, in an opinion to the Secretary of the Treasury, dated I
September 14, 1934, has confirmed the correctness of this view. The opinion reads I
in part as follows j
11
^ ’The guaranty being stated by the statute as full
and unconditional, there is no occasion to consider whether
a condition should be implied. The separate provision that
the Secretary of the Treasury shall pay if the corporation
is unable to pay upon demand is no part of the guaranty, but
merely a provision for carrying it out in the only reasonably
conceivable contingency that would require such action.
___ ” Considering the foregoing, it is my opinion that if
**/the/ corporation should fail, upon demand by a bona fide
and accredited holder, to pay either principal or interest
when due, the United States would thereupon become obligated.
to make such payment and its obligation would not be conditioned
upon the institution of any proceeding by the bondholder against
the corporation,’
Very truly yours,
(Signed) H, Morgenthau, Jr.
Secretary of the Treasury.
John H. Fahey, Chairman,
Federal Home Loan Bank Board,
Washington, D.O.”
i
I
TREASURY DEPARTMENT
Washington
Release,
Press Service
No. 5 - jj
The phrase "fully'and unconditionally guaranteed" as applied to the bonds
of both the Federal Farm Mortgage Corporation and Home Ownersf Loan Corporation, in
the
opinion of the Secretary of the Treasury, concurred in by the Attorney General,
means that this is a guaranty of payment —
not merely of collection —
with the
effect that^should either corporation default^the United States is obligated to make
payment of either principal or interest immediately when due without requiring the
holders first to proceed against the corporation.
Bonds of the Federal Farm Mortgage Corporation issued under the Act approved
January 31, 1934 and bonds of the Home Owners* Loan Corporation issued under the
amendment of April 27, 1934 to the Home Owners* Loan Act of 1933, are guaranteed
fully and unconditionally both as to interest and principal by the United States.
Secretary Morgenthau today made public the text of a letter, addressed to
John H. Fahey, Chairman, Federal Home Loan Bank Board, with the announcement that
a letter to the same effect had been sent to W. I. Myers, Governor of the Farm
Credit Administration.
The letter follows:
"September 19, 1934.
My dear Mr« Fahey:
llBeference is made to your inquiry respecting the Government guaranty of the
bonds of the Home Owners* Loan Corporation issued under the amendment of April 27,
1934 to the Home Owners* Loan Act of 1933.
"Section 4(c) of the Act, as so amended, provides:
*Such bonds shall be fully and unconditionally guaranteed
both as to interest and principal by the United States,
and such guaranty shall be expressed on the face thereof*#**.
The bonds issued pursuant thereto recite upon their face, over the signature of the
Secretary of the Treasury, that »This bond is fully and unconditionally guaranteed
both as to interest and principal by the United States.*
TREASURY DEPARTMENT
Washington
EOR RELEASE* AFTERNOON NEWSPAPERS,
Tuesday, September 25, 1934.
9-24-34.
^ e s s Service
^°* ^ “ il
The phrase "fully and -unconditionally guaranteed" as applied to the bonds
of both the Federal Farm Mortgage Corporation and Home Owners* Loan Corporation,
in the opinion of the Secretary of the Treasury, concurred in by the Attorney
General, means that this is a guaranty of payment —
not merely of collection —
with the effect that, should either corporation default, the United States is
obligated to make payment of either principal or interest immediately when due
without requiring the holders first to proceed against the corporation.
Bonds of the Federal Farm Mortgage Corporation issued under the Act ap
proved January 31, 1934 and bonds of the Home Owners* Loan Corporation issued
under the amendment of April 27, 1934 to the Home Owners* Loan Act of 1933, are
guaranteed fully and unconditionally both as to interest and principal by the
United States.
Secretary Morgenthau today made public the text of a letter, addressed to
John H. Fahey, Chairman, Federal Home Loan Bank Board, with the announcement that
a letter to the same effect had been sent to W. I. Myers, Governor of the Farm
Credit Administration.
The letter follows:
"September 3^, 1934.
"^r dear Mr, Fahey:
"Reference is made to your inquiry respecting the Government guaranty of the
bonds of the Home Owners* Loan Corporation issued under the amendment of April
27, 1934 to the Home Owners* Loan Act of 1933.
"Section 4(c) of the Act, as so amended, provides:
*Such bonds shall be fully and unconditionally guaranteed
both as to interest and principal by the United States,
and such guaranty shall be expressed on the face thereof
•
The bonds issued pursuant thereto recite upon their face, over the signature of
the Secretary of the Treasury, that ‘This bond is fully and unconditionally
guaranteed both as to interest and principal by the United States.
11The Treasury takes the view that this guaranty is a guaranty of payment —
not merely of collection — with the effect that should your corporation fail to
pay upon demand, when due, the principal of, or interest on, these "bonds, the United
States would "be obligated to make such payments immediately without requiring the
respective holders first to proceed against your corporation.
’’The Attorney General, in an opinion to the Secretary of the Treasury, dated
September 14, 1934, has confirmed the correctness of this view. The opinion reads
in part as follows:
” *The guaranty being stated by the statute as full and
unconditional, there is no occasion to consider whether a con
dition should be implied. The separate provision that the
Secretary of the Treasury shall pay if the corporation is un
able to pay upon demand is no part of the guaranty, but merely
a provision for carrying it out in the only reasonably conceiv
able contingency that would require such action.
____^ ’Considering the foregoing, it is my opinion that if
**/the / corporation should fail, upon demand by a bona fide
and accredited holder, to pay either principal or interest
when due, the United States would thereupon become obligated
to make such payment and its obligation would not be conditioned
upon the institution of any proceeding by the bondholder against
the corporation. *
Very truly yours,
(Signed) H, Morgenthau, Jr.
Secretary of the Treasury.
John H. Fahey, Chairman,
Federal Home Loan Bank Board,
Washington, D. C,”
\
X
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Tuesday, September 25, 1934*
Press Service
^ ^^
Secretary of the Treasury Morgenthau announced
last evening that the tenders for $75,000,000, or
thereabouts, of 182-day Treasury bijls, dated Septem
ber 26, 1934, and maturing March 27, 1935, which were
offered on September 21, were opened at the Federal
reserve banks on September 24, 1934*
The total amount applied for was $194,266,000,
of whieh $75,023,000 was accepted* Except for one
bid of $55,000 at 99*935, the accepted bids ranged in
price from 99*879, equivalent to a rate of about 0*24
percent per annua, to 99*843, equivalent to a rate of
about 0*31 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted* The average price of Treasury bills to be
issued is 99*855 and the average rate is about 0*29 per
cent per annum on a bank discount basis#
1
TREASURY DEPARTMENT
Washington
EOR RELEASE, MOROTG- PAPERS,
Tuesday, September 25, 1934.
9-24-34.
Press Service
E o . 3 - 12
Secretary of the Treasury Morgentham announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury bills, dated September 26, 1934, and maturing March 27,
1935, which were offered on September 21, were opened at the
Federal reserve banks on September 24, 1934.
The total amount applied for was $194,266,000, of which
$75,023,000 was accepted.
Except for one bid of $55,000 at
99.935, the accepted bids ranged in price from 99.879, equivalent
to a rate of about 0.24 per cent
per
to a rate of about 0.31 per cent
per annum, on a bank discount
basis.
bid
accepted.
Only part of the amount
annum, to
99.843,equivalent
for at the latter price was
The average price of Treasury bills to be issued is
99.855 and the average rate is about 0.29 per cent per annum on
a bank discount basis
muumr
wjmmams
Prase 8*r»lce
*m belhsb, m m a m m w ,
Tuesday, September 28, 1984*
3 ' / 3
Secretary of the treasury iiorgs&theii announced loot night
(September S4, 1934) that ®f tellLli^iiae approwisately I
of the Fourth liberty Lean bonds sailed fur redemption cm October
IS, 1994,
bad boon exchanged far the four-year 8-1/8 percent
Treasury notes of Borlea 0-193© and the 3-1/4 percent Trtmaury
bonds of 1944-44*
Subscriptions for the treasury notea of ©orlea P-1938 aggro-
»*• s
f
f A ** * * *
%— *
# This la a preliminary total figure for
iaaua, on which the aubiieriptlei* boofca closed at
oloaa of business
loot night*
Subscriptions for the 3-1/4 percent Treasury bonds aggregate
Oc?c^ and the subscription books for this offering
will remain open until further notice for the exchange of Fourth
liberty loan bonds sal lad for redemption on October 18#
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAms,
*
Tuesday^ September 25, 1934,
9-24-34.
Press Service
No, 3 - 1 3
Secretary of the Treasury Morgenthau announced last night (September
24, 1934) that up to that time approximately $844,000,000 of the Fourth
Liberty Loan bonds called for redemption on October 15, 1934, had been
exchanged for the four-year 2-l/2 per cent Treasury notes of Series D-1938
and the 3—1/4 per cent Treasury bonds of 1944-46,
Subscriptions for the Treasury notes of Series D-1938 aggregate
$596,000,000,
This is a preliminary total figure for the note issue,
on which the subscription books closed at the close of business last night.
Subscriptions for the 3-l/4 per cent Treasury bonds aggregate
$248,000,000* and the subscription books for this offering will remain
open until further notice for the exchange of Fourth Liberty Loan bonds
called for redemption on October 15.
eg*..A V|
m M
$ $ sju L A ^ jL & * * j
& -X £ m * ^ ~ )i
K %
>£
DPP°-° 'PITTTPAg-j?|
i
J. F. T. 0*Connor, Comptroller of the Currency, announced that word
was received today from Alfred A, Cook and Clarence J, Shearn^counsel for
the Comptroller of the Currency^ that ninety per cent in amount of the de
positors of The Harriman National Bank and Trust Company have formally
approved and assented to the adjustment made with ten of the twenty New
York Clearing House banks against whom suit was brought by the Comptroller
of the Currency and the Receiver of the Bank.
The agreement in the matter was made under the supervision of the
Comptroller and was contingent upon the approval of ninety per cent of the
depositors.
The assents of 49&B> depositors already received make/ certain
w'
the effectuation of the adjustment*
The adjustment calls for the im
mediate payment by the ten Clearing House banks of $2,867,883, and it is
anticipated that the remaining legal details can be worked out within the
next two weeks so that as the result of this adjustment a further distri
bution to assenting depositors of approximately
can thereupon be made.
agfsdSN&r
sixteen per cent
Depositors have already received fifty per cent
of the amount of their deposits.
It is appreciated that some depositors have been delayed in filing
their assents and consequently in order that they may have a further
opportunity to share in the adjustment, a notice will be shortly mailed to
all who have not yet assented, giving them thirty days in which to act.
Those who have not heretofore assented must act within this extension
period if they are to receive the distribution.
The suit against the other ten Clearing House banks will go forward
]
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE
Thursday, September 27, 1934.
PRESS SERVICE
No. 3-14
J.F.T. O ’Connor, Comptroller of the Currency, announced that word
was received today from Alfred A. Cook and Clarence J* Shearn, counsel for
the Comptroller of the Currency, that ninety per cent in amount of the de
positors of The Harriman National Bank and Trust Company have formally
approved and assented to the adjustment made with ten of the twenty New
York Clearing House banks against whom suit won brought by the Comptroller
of the Currency and the Receiver of the bank.
The agreement in the matter was made under the supervision of the
Comptroller and was contingent upon the approval of ninety per cent of the
depositors.
The assents of the depositors already received make
the effectuation of the adjustment.
certain
The adjustment calls for the im
mediate payment by the ten Clearing House banks of $2,867,883, and it is
anticipated that the remaining legal details can be worked out within the
next two weeks so that as the result of this adjustment a further distri
bution to assenting depositors of approximately sixteen per cent can there
upon be made..
Depositors have already received fifty per cent of the
amount of their deposits.
It is appreciated that some depositors have been delayed in filing
their assents and consequently in order that they may have a further
opportunity to share in the adjustment, a notice will be shortly mailed to
all who have not yet assented, giving them thirty days in which to act.
Those who have not heretofore assented must act within this extension
period if they are to receive the distribution.
The suit against the other ten Clearing House banks will go forward.
-
2
-
other expenses involved to he paid from the appropriations heretofore
chargeable with such costs during the present fiscal year.
Revision
of the budget requirements for the Public Health Service for the fiscal
year 1936, to include the necessary authority and funds for the mainte
nance of these medical relief stations has been requested.
It is believed that the coordination of these emergency medical
activities under the Public Health Service will result in more uniform^
economic, and efficient operation.
The units involved are located as
follows:
1. Main Treasury Building
2. Treasury Annex No. 1,
Madison Place and Pennsylvania Ave., N. W.
3.
Internal Revenue Building,
12th St., and Constitution Ave., N. W.
4. Old Southern Railway Building,
1300 E Street, N. W. (So long as under the
supervision of the Treasury Department)
5. Office of the Register of the Treasury,
14th and B Streets, S. W.
6. Branch Treasurer's Office,
119 D Street, N. E.
7. Federal Warehouse,
9th and D Streets, S. W.
8. Division of Loans and Currency,
14th and D Streets, S. W.
9. Bureau of Engraving and Printing,
14th and C Streets, S. W.
10 .
Washington Building,
15th and New York Avenue, N. W.
(In process of organization)
TREASURY DEPARTMENT
Washington
POP RELEASE, MORNING NEWSPAPERS,
Press Service
No. 3 - g \ /sj"
Friday. September 28. 1934.
9-27-34.
?en medical relief tuiyts
Tfff£sury Department at Washington
»will £e placed under the supervision of the United States Public Health
Service, beginning October 1, 19345 /T^e Secretary of the Treasury an
nounced today in making public Treasury Department Order No. 9* fchafrUnder the terms of this Order all medical relief activities of the Trea
sury in the District of Columbia, not now a part of or under the super
vision of the Public Health Service, are transferred to that Service,
placed under the general supervision of the Surgeon General. The
new activities which the Public Health Service will supervise will be
c&riued on in addition to the caaeTgeiwy rolinf unit already maintained
A -u.
/v-
/yin the old Post Office^Building at Washington.
The Surgeon General will detail a commissioned medical officer of
the Public Health Service to direct the operation of all .eiaargone^ate/Airefc stations which come under the Treasury Department.
Such dispensaries
are not to be operated as stations where repeated and long-continued
treatment may be obtained.
They will be emergency in character and equipped
to furnish emergency aid^w^u ^
The personnel, records, books, equipment and supplies connected with
the medical activities concerned are placed by the Order under the juris
diction and control of the Surgeon General, the costs of the personnel and
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, September 28, 1934.
9-27-34.
Press Service
^°* 3-15.
Ten medical relief units of the Treasury Department at Washington
heretofore operating independently, will be placed under the supervision
of the United States Public Health Service, beginning October 1, 1934,
the Secretary of the Treasury announced today in making public Treasury
Department Order No, 9,
Under the terms of this Order all medical
relief activities of the Treasury in the District of Columbia, not now
a part of or under the supervision of the Public Health Service, are
transferred to that Service, and placed under the genera,! supervision
of the Surgeon General.
The new activities which the Public Health
Service will supervise will be carried on in addition to the medical
attention unit already maintained by the#Health Service in the old Post
Office Department Building at Washington.
The Surgeon General will detail a commissioned medical officer of
the Piblic Health Service to direct the operation of all such first
aid stations which come under the Treasury Department.
Such dispensarie
are not to be operated as.stations where repeated and long-continued
treatment may be obtained.
They will be emergency in character and
equipped to furnish emergency aid to employees.
The personnel, records, books, equipment and supplies connected
with the medical activities concerned are placed by the Order under the
jurisdiction and control of the Surgeon General, the costs of the
personnel and other expenses involved to he paid from the appropriations
heretofore chargeable with such costs during the present fiscal year.
Revision of the budget requirements for the Public Health Service for the
fiscal year 1936, to include the necessary authority and funds for the
maintenance of these medical relief stations has been requested.
It is believed that the coordination of these emergency medical
activities under the Public Health Service will result in more uniform,
economic, and efficient operation.
The units involved are located as
follows:
1.
Main Treasury Building.
2.
Treasury Annex Ho. 1,
Madison Place and Pennsylvania Ave., H.W,
3.
Internal Revenue Building,
12th St., and Constitution Ave., N.W.
4.
Old Southern Railway Building,
1300 E Street, U.W, (So long as under the
supervision of the Treasury Department)
5.
Office of the Register of'the Treasury.
14th and B Streets, S.W,
6.
Branch Treasurers Office,
119 D Street, H*E.
7.
Federal Warehouse,
9th and D Streets, S.W.
8.
Division of Loans pud Currency,
14th and D Streets, S.W,
9.
Bureau of Engraving and Printing,
14th aud C Streets, S.W.
10. Washington Building,
15th and Hew York Avenue, H.J7.
(In process of organization)
Sept. 28,1934
0 a.
7U.
iU
rr
71
Commissioner Guy T* Helvering of the Bureau of Internal
Revenue Jmfmgr issued instructions to District Supervisors of
the Alcohol fas Unit requiring a more frequent inspection and
check on the operations of wholesale liquor dealers# to prevent
internal revenue tax evasions.
(
u/v«
■■ *
•f
* <XA,sS\*4? fi
*
4
Under these instructions, special attention of the revenue
force is directed to the provisions of Section 3318, Revised
Statutes# requiring wholesale liquor dealers to provide a hook
in yfcich to make entries of all transactions in distilled
spirits.
Such dealers also are required hy the law to render
to the G-0vernraent transcripts on the tenth day of each month
showing all entries made during the month preceding.
The record
required to he kept in the places of business of wholesale liquor
dealers,must he at all times open to inspection hy officers.1
The inspection force has been directed to he especially
vigilant to bring about full complid&ce with the law#hy inspections
at frequent intervals# the making of inventories of stocks on
hand# together with regular examinations of dealers1hooks and
records.
o-
TREASURY DEPARTMENT
Washington
IMMEDIATE RELEASE,
Friday, September 28, 1934
Service
No. 3 - 16
Tr e s s
Commissioner Guy T. Helvering of the Bureau of Internal Revenue has
issued instructions to District Supervisors of the ALcohol Tax Unit re
quiring a more frequent inspection and check on the operations of whole
sale liquor dealers, to prevent internal revenue tax evasions, it was
announced today by Secretary Morgenthau*
Under these instructions, special attention of the revenue force is
directed to the provisions of Section 3318, Revised Statutes, requiring
wholesale liquor dealers to provide a book in which to make entries of
all transactions in distilled spirits.
Such dealers also are required
by the law to render to the Government transcripts on the tenth day of
each month showing all entries made during the month preceding.
The
record required to be kept in the places of business of wholesale liquor
dealers, must be at all times open to inspection by officers.
The inspection force has been directed to be especially vigilant to
bring about full compliance with the law, by inspections at frequent in
tervals, the making of inventories of stocks on hand, together with
regular examinations of dealers’ books and records.
TREASURY DEPARTIIMT
WASHINGTON
FOl RELEASE, MORNING NEWSPAPERS,
Monday, October X, 19254,
Saoratary of the Treasury Morgenthau announced the final allotments
of subscriptions for four-year Treasury notes of Series D-1938, maturing
September 15, 1938, which were offered only in exchange for Fourth Liberty
Loan bonds called for redemption on October 15, 1934, and which were closed
on September 24, were divided among the several Federal reserve districts
and the Treasury as follows;
Federal Reserve
Districts
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louie
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
Total Subscriptions
Received and Allotted
| 37,582,750
376,990,050
17,288,800
26.529.800
8,129,800
3,553,050
64,146,900
12,447,950
10,478,350
11,959,000
6,827,750
15.472.800
5.284,150
$596,691,150
The Secretary further stated that the subscription books for the 3-1/4
percent Treasury bonds, which also were offered only in exchange for the
called Fourth Liberty Loan bonds, will remain open until further notice.
Subscriptions aggregating $293,300,000
have been received for these bonds
through September 29. Accordingly, a total of $890,000,000
Fourth Liberty
loan bonds called for redemption on October 15, 1954, have been exchanged tot
new securities.
- 2 -
with balances less than a certain amount, in order to eliminate the
detail work of the receiver in handling a large number of small in
dividual claims. He will thus become the owner of all claims thus ac
quired. j^The^receiver will shortly be in a position to pay a dividend
of approximately 50$, The dividend received by Mr. Gabrielson upon
purchase of claims fran small depositors together with dividends which
he will receive on other funds idiich were on deposit with the bank at
the time of suspension, may then be set up as a revolving fund which
can be used to acquire all other individual deposits by payment of the
face value of all such claims purchased after first deducting therefrom
the first dividend received by the depositors from the receiver. Mr.
Gabrielson explains that he will augment this fund when and if necessary,
until all claims of individual depositors of the Farmers Nat ional Bank
have thus been acquired except the public deposits.
Mr. Rush Gabrielson was appointed Conservator of the bank following
the banking holiday and served as such up until the appointment of the
receiver.
Since that time he has been working for the receiver without
compensation,
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday. October I. 1954._______
to
~ (-1 *
The
to pa\
.i^AirrlA-nal Ttac yrj1 UT
or>
fxL .1
the deposits on the closedJfe^nk out/of pej
_
fundi
___
AM
A plan has been worked out between tfri^Coro^^^lerHiifliifinland Mr*
Guy George Gabrielson, an attorney of New York City, whereby all deposits
except public funds of the Farmers National Bank of Crystal Lake, Iowa,
~ t t o
may be paid out of funds
w h ic h
Mr. Gabrielson offers to provide^ The
1
Fanners National Bank of Crystal Lake was chartered by the Comptroller
on September 34, 1910. Mr. Gabrielson explained that in the community
the bank was known as the "Gabrielson Bank" because of the large holdings
of that family.
Mr. F. A. Gabrielson was President of the bank until his
death in October, 1S26, when his son, Mr. Guy George Gabrielson, was
elected President. The latter served as President until the general bank
ing holiday. He was not active, however, in the bank, leaving its opera
tions to a brother, Mr. Rush Gabrielson.
The bank did not receive a license to reopen following the banking
holiday. After conferences with representatives of the Comptroller, it
was decided that the bank should be placed in the hands of a receiver for
liquidation. Mr. Guy George Gabrielson explains that he wishes to dis
charge what he considers a moral responsibility on account of the position
which the Gabrielson family has had in connection with the bank.
He
offers to purchase at full face value all deposits in the
bank
TREASURY DEPARTMENT
Wasliingt on
FOR IMMEDIATE 5
Monday, October 1. 1934._______ _
10*1-34
$
Pr°SS Servid©
A plan has "been worked out between the office of the Comptroller of
the Currency and Mr. Guy George Gabriel son, an attorney of New York City,
whereby all deposits except public funds of the Farmers National Ban!? of
Crystal Lake, Iowa, may be paid out of funds which Mr. Gabrielson offers
to provide, the Treasury Department announced today.
The Farmers
National Bank of Crystal Lake was chartered by the Comptroller on September
24, 1910.
Mr, Gabrielson explained that in the community the barkms
known as the “Gabrielson Bank1* because of the large holdings.of that
family.
Mr. F.A. Gabrielson was President of the bank until his dea.th
in October, 1926, when his son, Mr. Guy George Gabrielson, was elected
President.
The latter served as President until the general banking holiday
He wa.s not active, however, in the bank, laaving its operations to a
brother, Mr, Rush Gabrielson.
The b-nk did not receive a license to reopen following the banking
holiday.
After conferences with representatives of the Comptroller, it
was decided that the bank should be placed in the hands of a receiver for
liquidation.
Mr. Guy George Gabrielson explains that he wishes to dis
charge what he considers a moral responsibility on account of the position
which the Gabrielson family has had in connection with the bank.
He
offers to purchase at full face value all deposits in the bank with
- 2 -
■balances less than a certain amount, in order to eliminate the detail.work
of the receiver in handling a large number of small individual claims.
He will thus become the owner of all claims thus acquired.
The receiver will shortly be in a position to pay a dividend of
approximately 50$.
The dividend received by Mr. Gabrielson upon purchase
of claims from small depositors together with dividends which he Will
receive on other funds which were on deposit with
the bank at the time
of suspension, may then be set up as a revolving fund which can be used
to acquire all other individual deposits by payment of the face value
of all such claims purchased after first deducting therefrom the first
dividend received by the depositors from the receiver.
Mr. Gabrielson
explains that he will augment this fund when and if necessary, until
all claims of individual depositors of the Farmers National Bank have
thus been acauired except the public deposits,
Mr. Hush Gabrielson wa,s appointed Conservator of the bank following
the baulking holiday and served a..s such up until the appointment of the
receiver.
Since that time he has been working for the receiver without
compensation.
TREASURY DEPARTMENT
Washington
October 1, 1954.
MEMORANDUM FOR THE PRESS.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended September 28, 1934:
Philadelphia...... *.................. ••*•••*
616,420.19 fine ounces
San Francisco................... • •........ .
432,404.84
Denver............... ....... ........ ...... .
5,462.00 _ _ ”
Total for week ended Sept. 28..•••••••....1,054,287.05
Total receipts through September 28, 1954..... 13,601,000 fine ounces
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 28, 1934:
Philadelphia ........
24,987 fine ounces.
New York.......................... •......... 2,058,624
San F r a n c i s c o .........
447*326
Denver ..................
18,170
New Orleans......... .................. •.....
716
Seattle..
________ §70.
Total for week ended Sept. 28.....•••••••» 2,550,303
Total receipts through September 28, 1934..... *90,969,584
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended September 28, 1934:
$ 14,941.96
P h i l a d e l p h i a.... .........
417,400.00
New York.......... ..... .
14,095.48
San Francisco..........
27,384.00
D e n v e r ..............
New Orleans ............. .
• ••••••
Seattle.
t
Total for week ended Sept.28 $473,821.44
Secondary
$ 215,596.02
584,600.00
140,998.35
41,142.00
57,700.45
24.958.52
$1,054,995.34
New Domestic
.ft
1,603,395.69
589,384.00
2,628.52
• 252.006.71 .
$2,447,414.92
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER*S OFFICE:
(Under Secretary's Order of December 28,1953)
Received by Federal Reserve Banks:
Week ended Sept. 26, 1934.........
Received previously.......... .
Total to Sept. 26, 1934......... .
Received by Treasurer’s Office:
Week ended Sept. 26, 1934.........
Received previously.... ......... .
Total to Sept. 26, 1934<
Gold Certificates
Gold Coin
599,120.00
, 37,395.64 $
70.589.280.00
29,063,568.94
,$29,100,964.58‘ $71,188,400.00
$
$
$
---251.894.00
251,894.00
$
12,800.00
'1.737.300.00
$- 1,750,100.00
NOTE: Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
NET PURCHASES (OR.SALES) OFSECURITIBS FOR TREASURY INVESTMENT ACCOUNTS:
Net sales for week Ending
$1,204,000.00
^BskxEKJfeji September 29, 1854......... .
TREASURY DEPARTMENT
Washington
October 1, 1934*
M Q R M D U M FOR THE PRESS;
t?OTIHDS
OF SILVER BY THE MINTS:
(Un^er Executive Order of December 21, 1933)
Week ended September 28, 1934:
616,420.19 fine ounces
Philadelphia.
.... ............. ......
432,404.84
M
H
San Francisco.
..... ......... *
5,462.00
■
"
tt
Denver.•
........•....•••........... • •••
1,054,287.03
u
"
Total for week ended Sept. 28.........
13,601,000 fine ounces
•
•
•
«
Total receipts through September 28, 1934...
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended September 28, 1934:
24f987 fine otincos
Philadelphia..... ........... .***,..........
2,058,624
”
H
ITew York.......... ..... ***',‘'..... **’*"*.*
447,326
San Francisco......................... .
,g
Denver. ...... ............... • *• *• *........ *
9
Hew Orlcans.••••........ ................ '***
570
Seattle..••••••••••••••••••••••«••*•••••••***
_---— r~f\|HH—
f7A f7
Total for week ended Sept. ................
!
,
Total receipts through September 28, 1934...... 90,969,58-1=
™ E T P T S OF GOLD
by
THE MISTS AUD ASSAY OFFICE.:
Secondary
Week ended September 28, 1934: — — ImportiL---$ 14,941.96
$ 215,596.02
Philadelphia.............
584, 600.00
417,400.00
Hew York*••••••.... .
140,998.35
14,095.48
San Francisco......... .
41,142.00
27,384.00
Denver.••••..•..........
57,700.45
Hew Orleans.••••...... .
24,958.52
S eat tie........... ••• •• ••••
Total for week ended Sept.28 $473,821.44
$1,054,995.34
TTftw Domestic
1,603,395.69
589,384.00
2,628.52
252,006.71
$2,447,414.92
D RECEIVED BY FEDERAL RESERVE BANKS AHD THE TREASURER 1 S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Sept. 26,' 1934..........
Received previously. ®.....• •••••••
Total to Sept. 26, 1934....... .
Received by Treasurers Office:
Week ended Sept. 26, 1934.• • •• •• ••
Received previously*e..««..*••••••
Total to Sept. 26, 1934...........
Gnld Certificates.
$
599,120.00
70,589,280,00
$71,188,400.00
Gold Coin
$
37,395.64
29,063,568.94
$29,100,964.58
$
___
$
12,800.00
1,737,300.00
$ 1,750,100.00
251,894.00
251,894.00
HOTE: Gold bars deposited with the Row York Assay Office to
the amount of $200,572.69 previously reported.
m m F 0 R C m S 3 S (OH SALSS) 0? SBOnBITIB FOB
I T O S T H M T ACCOOOTS:
Net sales for week ending Sept. 29. 1934................
TREASURY DEPARTMENT
Washington
Press Service
No. 3 - 1 9
FOR IMMEDIATE RELEASE,
October 1, 1934.
ACTIVITIES OF INVESTIGATORS,
ALCOHOL TAX UNIT, FOR WEEK ENDING- SEPTEMBER 32, 1934.
(Corrected statement based on complete weekly reports
of investigators)
1st.
States
Jo.
1
Conn,
Maine
Mass,
N. Mm
R. I.
vt.
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Autos &
Trucks
Seized
Arrests
200
5
4
7
300
1,429
2
10
2
200
10 2
200
1
2
225
89
1,650
1
8
Value of
Property
Seized
$
TOTAL
4
425
199
1,850
6
$ 1,936
17
2
,N. Y.
10
8,298
4,119
62,957
12
$38,136
14
3
Penn.
4
337
179
6,900
4
$ 3,434
23
4
Del.
N. J.
8
. 4,004
1,997
75,618
$ 2,000
4
TOTAL
8
4,004
1,997
75,618
$ 2,000
4
4
3
27
72
347
135
2,750
20,29-5
13,827
1,530
584
38,402
247
376
318
20,770
10,160
17,028
5,090
5
6
7
D. 0.
Md,
N.Car.
Va.
f. Va.
11
13
5
485
1,550
1,979
280
TOTAL
33
4,294
Ala,
Fla.
Ga.
S, Car.
11
11
11
1,325
2,715
2,902
740
TOTAL
58
7,682
.1,051
ly,
Tenn,
22
202
5
1,575
2,915
TOTAL
27
2,490
25
1
$
50
542
1
13
16
13
1
10
3
4
2,488
1,658
9
$ 4,748
50
3
13
2
$ 1,476
3,055
2,893
663
53,048
10
$ 8,087
76
2
109
9,055
9,450
3
$ 2,820
1,370
24
14
311
18,505
5
$ 4,190
38
110
2
3
8
8
28
27
2
-
-
muz*- • —
Autos &
Trucks
Seized
Value of
Property
Seized
States
1
Mich.
OMo
5
19
' 180
l r525
145
595
1,630
14,670
2
3
$
788
2,665
8
12
TOTAL
24
1,705
740
16,300
5
$
3,443
20
111.
Ind.
Wise.
6
2
9
775
125
5,265
606
37
4,592
2,600
1,000
111,995
2
$
1,838
5
62,199
25
3
28
TOTAL
17
6,165
5,235
115,595
7
$ 64,037
56
La.
Miss.
Texas
13
7
11
952
500
500
173
96
175
1,116
2,000
1,800
1
3
5
$
788
838
1,574
33
21
39
TOTAL
31
1,952
445
4,916
9
$
3,200
93
Ark.
Kanaas
Mo.
Okla.
13
4
13
4
1,750
471
810
365
366
134
233
163
17,400
1,882
13,765
2,000
2
1
3
1
$
2,090
997
2,132
, 832
18
11
28
15
TOTAL
34
3,396
896
35,047
7
$
6,051
72
Iowa
Minn,
Neb.
N. Dale.
S.Dak.
1
4
100
530
212
423
400
4,250
2
1
$
480
1,000
8
18
1
15
7
2
528
2
TOTAL
6
645
644
4,650
4
$
2,008
28
Ariz.
Colo.
N.Mex.
Utah
Wyo.
2
1
5
1
1
115
50
610
56
25
52
59
12
13
1
850
100
1,090
50
2
$
235
20
6
4
6
2
1
10
856
137
2,090
Calif.
Hawaii
Nevada
1
15
TOTAL
1
Idaho
Mont.
Ore.
8
9
10
11
12
13
TOTAL
St ills
Seized
Cala. of Cals, of
Spirits
Mash
Seized
Seized
I Dist.
No.
Capacity
1
1
766
Arrests
3
$
1,021
19
251
2
$
1,160
5
15
251
2
$
1,160
5
1
10
$
Wash.
2
1
170
75
77
26
70
25
27
470
589
1
6
2
4
TOTAL
5
$
1,111
19
| GRAM) TOTAL
260
$144,564
534
14
1
15
l
110
500
500
200
1
2
255
174
1,310
3
42,519
16,962
437,188
84
TREASURY DEPARTMENT
Washington
For Immediate Release
Monday, October 1, 1934
Press Service
No. 3- 19
Secretary Morgenthau announced today that the statement heretofore
made weekly of purchases of Government securities for Treasury investment
accounts will be suspended as of this date.
G£—
Hereafter fens statement will be made on the 15th of each month
of the net amount of purchases or sales for the
preceding month of Government securities for investment accounts administered
by the Treasury
TREASURY DEPARTMENT
Washington
For Immediate Release
Mondayr October 1, 1934.
Press Service
No., 3-^20
Secretary Morgenthau announced today that the statement
heretofore made weekly of purchases of Government securities for
Treasury investment accounts will "be sixspended as of this date.
Hereafter a statement will "be made on the 15th of each
month of the net amount of purchases or sales for the preceding
month of Government securities for investment accounts administered
"by the Treasury
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 2, 1984
Press Service
No. 3-'2-.)
10/1784------
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated October 3, 1934, and
maturing April 3, 1935, which were offered on September 28,
were opened at the Federal reserve banks on October 1,
1934.
The total amount applied for was $243,169,000, of
which $75,038,000 was accepted. The accepted bids ranged
in price from 99.879, equivalent to a rate of about 0.24
percent per annum, to 99.844, equivalent to a rate of
about 0.81 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
Issued is 99.857 and the average rate is about 0.28 percent
per annum on a bank discount basis.
TREASURY DEPARTMENT
TTashington
FOR RRLRA.SE, HORMII'IG- NEWSPAPERS,
Tuesday, October 2, 1934.
Press Service
No. 3 - 2 1
10-1-34
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury hills, dated October 3, 1934, and maturing April 3,
1935, which were offered on September 28, were opened at the
Federal reserve banks on October 1, 1934.
The total amount applied for was $243,169,000, of which
$75,038,000 was accepted.
The accepted bids ranged in price
from 99.879, equivalent to a rate of about 0.24 per cent per
annum, to 99.844, equivalent to a rate of about 0.31 per cent
per annum, on a bank discount basis.
Only part of the amount
bid for at the latter price was accepted.
The average price
of Treasury bills to be issued is 99.857 and the average rate
is about 0.28 per cent per annum on a bank discount basis.
-2 -
$1,758,184,000 and in addition 28 banks paid their depositors in full
the sum of $11,051,000 and went out of business; 302 were placed in
receivership with $158,417,000 in deposits.
The fact that a bank is
placed in receivership does not mean that it will not reopen and 18
of these receivership banks with deposits of $10,132,000 have already
had plans approved for reopening.
These figures account for all butt
36 of the closed national banks after the holiday and 30 of these have
plans approved for reopening representing $41,664,000 and 6 have plans
disapproved representing $3,183,000.
The banks with disapproved plans
may be able to submit a plan which can be approved.
These figures have been available at all times to newspaper
men and it is indeed unfortunate that such a false and misleading state
ment would be printed.
Substantial dividends have been paid to depositors in closed
banks and there has been distributed to depositors in all closed national
banks since March 16, 1933, over half a billion dollars, or to be exact
$542,811,998.
The article is further misleading in its statement that the
receivership and conservatorship expenses in Washington banks alone
run over a million dollars.
The same paper indicated a short time
ago that this expense included monies paid on prior liens, taxes and
other items of expense.
These items were paid to protect the depositors.
Q?
TREASURY DEPARTMENT
PRESS STATEMENT
e telease
1934
October
J. F. T. O ’Connor gave out the following statement today;
My attention has been called to a rather misleading editorial
..
.
tf
„
appearing in a Washington paper tartly under the h e a d i n g ^ Bank Expenses.
After commenting on the fact that 94 cents out of every dollar collected
hy receivers has been returned to the depositors, leaving merely 6 cents
for the payment of receivers1 salaries, attorneys fees and all other
expenses of receiverships, the editorial calls attention to the fact"
io
that
r
this figure on the amount collected
on the amount the depositor thought he had in the hank.
If all of
the money the depositors placed in the hank was in the hank or in good
securities it would not have closed*
Banks close because there are
losses, poor management and in some cases embezzlement*
Ho way has
been found yet to make collections on losses*
Again the editorial refers to "the wholesale refusal of permits
to reopen institutions d o s e d arbitrarily in the bank holiday", and further
states "It was this arbitrary action which tied up thousands of millions
of dollars of the depositors1 money about 50 per cent of which is still
frozen"*
This statement is positively false*
There were 1,417 banks
under the jurisdiction of the Comptroller of the Currency unlicensed at
the end of the banking holiday on March 16, 1933, representing $1,971,960,000.
v havaThere maps been reorganized 1,051 of these banks
with deposits of
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
October 4, 1934.
Press Sorvica
J. E. T. 0*Connor, Comptroller of the Currency, gave out the following state
ment today:
My attention has "been called to a rather misleading editorial appearing
in a Washington paper yesterday under the heading "Bank Expenses,"
After
commencing on the fact that 94 cents out of every dollar collected by receivers
has been returned to the depositors, leaving merely 6 cents for the payment of
receivers* salaries, attorneys* fees and all other expenses of receiverships,
the editorial calls attention to the fact that this figure is based on the
amount collected and not on the amount the depositor thought he had in the bank.
If all of the money the depositors placed in the bank was in the bank or in
good securities it would not have closed*
Banks close because there are
losses, poor management and in some cases embezzlement.
Eo way has been found
yot to make collections on losses.
Again the editorial refers to "the wholesale refusal of permits to reopen
institutions closed arbitrarily in the bank holiday", and further states "It
was this arbitrary action which tied up thousands of millions of dollars of the
depositors* money about 50 per cent of which is still frozen".
is positively false.
This statement
There were 1,417.banks under the jurisdiction of the
Comptroller of the Currency unlicensed at the end of the banking holiday on
March 16, 1933, representing $1,971,960,000*
There have been reorganized
1,051 of these banks with deposits of $1,758,184,000 and in addition 28 banks
paid their depositors in full the sum of $11,051,000 and wont out of business;
302 were placed in receivership with $158,417,000 in deposits.
The fact that
a bank is placed in receivership does not mean that it will not reopen and 18
~ 2 ~
of these receivership banks with deposits of $10,132,000 have already had plans
approved for reopening#
These figures account for all "but 36 of the closed
national banks after the holiday and 30 of these have plans approved for re
opening representing $41,664,000 and 6 have plans disapproved representing
$3,183*000#
The banks with disapproved plans may be able to submit a plan
which can be approved#
Those figures have been available at all times to newspaper men and it
is indeed unfortunate that such a false and misleading statement would be
printed#
Substantial dividends have been paid to depositors in closed banks and
there has been distributed to depositors in all closed national banks since
March 16, 1933, over half a billion dollars, or to be exact $542,811,998.
The article is further misleading in its statement that the receivership
and conservatorship expenses in Washington banks alone run over a million
dollars#
The same paper indicated a short time ago that this expense in
cluded monies paid on prior liens, taxes and other items of expense#
items wore paid to protect the depositors#
These
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
October Z % 1934,_____
PRESS SERVICE
No. 3-22
The Secretary of the Treasury
asQ_s
accepted on behalf of the United States a gift of $900^/to be
expended by the Surgeon General of the Public Health Service
for study* investigation and research in the fundamental
problems of the diseases of man iK related subjects.
The gift was made by co-workers and friends of the late
Edgar Orrin Crossman, M.D.,formerly Medical Director of the
United States Veteransr Bureau, as a tribute to his accomplish
ments in the medical care and treatment of former members of
the military and naval forces of the United States.
The Secretary of the Treasury has advised the members
of the Edgar 0. Crossman memorial committee who had a part
in this memorial of the appreciation of Treasury and Public
Health officials of this gift.
The members of the Memorial
Committee include Dr. George C. Skinner, Dr. Roy D. Adams,
Dr. Winthrop Adams, Miss Mary Agnes Bown, Mr. John I.
Spreckelmyer.
The Secr&ary is authorized under the act
of
May 26, 1930
to accept, on behalf of the United States, gifts made unconditionally
for the purpose indicated.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,.
October 2, 1934.
Press Service
1To* 3 ~ 22
The Secretary of the Treasury has accepted oh behalf of the
United States a gift of $900 to be expended by the Surgeon General
of the Public Health Service for study, investigation and research
in the fundamental problems of the diseases of man and reluted
subjects*.
The gift was made by co-workers and friends of the late Edgar
Orrin Crossman, M.X)., formerly Medical Director of the United States
Veterans’ Bureau, as a tribute to his accomplishments in the medical
care and treatment of former members of the military and naval forces
of the United States.
The Secretary of the Treasury has advised the members of the
Edgar 0*. Crossman Memorial Committee who had a part in this memorial
of the appreciation of Treasury and Public Health officials of this
gift.
The members of the Memorial Committee include Dr,. George C*.
Skinner,. Dr.. Roy D. Adams, Dr. Uinthrop Adams, Miss Mary Agnes Bown,.
Mr. John X,. Spreckelmyer.
The Secretary is authorized under the act of May 26, 1930 to
accept, on behalf of the United States, gifts made unconditionally
for the purpose indicated.
- 3Below are listed those national banks which consummated
their reorganization plans and were opened during the month of
September 1934-s
Date
Frozen Deposits
Location
Name of Bank
Illinois
Shawneetown
National Bank of
9/3/34
Indiana
Covington
National Bank of
9/7/34
Michigan
Crystal Falls
Crystal Falls
Crystal Falls Nat*l Bk. 9/24/34
Iron County Nat*l Bk.
9/24 /3 4
New York
Phelps
Phelps National Bank
9/19/34
481,000.
Ohio
Bethesda
West Milton
First National Bank
First National Bank
9/1/34
9/7 /3 4
478,000.
186.000.
664,000.
Oklahoma
Cherokee
The Farmers Nat*l Bank 9/5/34
95,000.
Pennsylvania
Oil City
Patton
Pittsburgh
Pottsville
Spartansburg
Oil City National Bank
First National Bank
Nat'l Bk* of America
Merchants Nat*l Bank
Grange National Bank
9/28/34
9/6 /3 4
9/28/34
9/5/34
9/1/34
4,811,000.
1,525,000.
3 ,495 ,000 .
1,789,000.
195.000.
11,815,000.
Texas
Brownwood
White Deer
Citizens National Bank 9/28/34
First National Bank
9/28/34
361,000.
104.000.
465 ,006.
Total - 15 Banks
$
181,000.
134,000.
444,000.
726.000.
1,170,000.
| 1 5 , 0 0 5 ,000
-
2
-
with frozen deposits of $>158,4-17,000 have been placed in the hands of
Receivers* Eighteen of the 302 unlicensed banks in receivership now
have plans approved for reorganization involving $10,132,000 in frozen
deposits*
During September, one bank received an approved reorganization
plan, bringing the total approved to 3 1 * The 36 unlicensed national
banks at the close of last month were divided as follows:
31 banks,
with $38,071,000 frozen deposits, had approved plans of reorganiza
tion; 5 banks, with $2,617,000 frozen deposits, had disapproved plans
of reorganization.
The institution which received approval for its reorganization
plan last month was the Staunton National Bank, Staunton, Illinois,
which has frozen deposits of $397,000*
TREASURY DEPARTMENT
Washington
iP
v5-2- 1
10 -
%
During the month of September, 15 national banks, with frozen
deposits of $15,005,000 were licensed and opened or reopened, J. F.
T. 0*Connor, Comptroller of the Currency, announced today.
The reopening of 15 unlicensed banks last month brought the
number reopened during the first nine months of 1934 to 377 national
banks, with $318,316,000 frozen deposits as shown in the table below:
No. of National
Month
January
February
March
April
May
June
July
August
September
T o t a l s
Ranks Licensed
69
63
55
36
50
4-0
29
20
Frozen
Denosits
$ 6 8 , 966, 000.
62.953.000.
34-,739,000.
31.893.000.
37,4-88,000,
33.777.000.
24.472.000
9,023,000
.
15
15 005.000
377
1318 ,316,000
At* ■a.i"
jBSHife^he number of unlicensed banks in the United States^had been
reduced to 36 by the close of business September 29, 1934- Of the
1417 banks (including 10 state Banks and Trust Companies in the
District of Columbia which come directly under the Comptroller's
jurisdiction) remaining unlicensed on March 16, 19335 1051 with
frozen deposits of 11,758,184,000 have been reopened under old or
new charters, or absorbed by going banks5 28 with frozen deposits
of $11,051,000 have quit or withdrawn from the System, and 302
TREASURY DEPARTMENT
Washington
Press Service
No. 3 - 2 3
RELEASE, MORNING NEWSPAPERS,
Monday, October 8 , 1 9 3 4 , __
10-4-34.
Daring the month of September, 15 national ban£s, with frozen deposits
of $15,005,000 were licensed and opened or reopened, J. F. T. O'Connor,
Comptroller of the Currency, announced today.
The reopening of 15 unlicensed banks last month brought the number re
opened during the first nine months of 1934 to 377 national banks, with
$318,316,000 frozen deposits as shown in the table below:
Month
J anuary
February
March
April
May
June
July
August
September
T o t a l s
No. of National
Banks Licensed
Frozen
Deposits
15
$ 68,966,000,
62,953,000,
34,739,000.
31,893,000.
37,488,000.
33,777,000.
24,472,000.
9,023,000.
15,005,000.
377
$318,316,000.
69
63
55
36
50
40
29
20
The number of unlicensed banks in the United States last month had been
reduced to 36 by the close of business September 29, 1934.
Of the 1417 banks
(including 10 state Banks and Trust Companies in the District of Columbia which
come directly under the Comptroller's jurisdiction) remaining unlicensed on
March 16, 1933-, 1051 with frozen deposits of $1,758,184,000 have been reopened
under old or new charters, or absorbed by going banks; 28 with frozen deposits
of $11,051,000 have quit or withdrawn from the System, and 302 with frozen deposits of $158,417,000 have been placed in the hands of Receivers.
Eighteen
-
2
-
of the 302 unlicensed hanks in receivership now have plans approved for re
organization involving $10,132,000 in frozen deposits.
During September, one hank received an approved reorganization plan,
bringing the total approved to 31.
The 36 unlicensed national hanks at
the close of last month were divided as follows;
31 hanks, with $38,071,000
frozen deposits, had approved plans of reorganization; 5 hanks, with
$2,617,000 frozen deposits, had, disapproved plans or reorganization.
The institution which received approval for its reorganization plan
last month was the Staunton National Bank, Staunton, Illinois, which has
frozen deposits of $397,000.
- 3 ~
Below are listed those national banks which consommated
their reorganization plans and were opened daring the month of
September 1934:
Date
Frozen Deposit;
Location
Hame of Bank
Illinois
Shawneetown
national Bank of
9/8/34
Indiana
Covington
national Bark of
9/7/34
134,000.
Michigan
Crystal Falls
Crystal Falls
Crystal Falls H a t ‘l Be,
Iron County Hat*! Bk.
9/24/34
9/24/34
444.000.
726.000.
$
181,000.
1,170,000.
Hew York
Phelps
Phelps national Bark
9/19/34
481,000.
Ohio
Bethesda
West Milton
First national Bank
First national Bank
9/l/34
9/7/34
478.000.
186.000.
664,000.
Oklahoma
Cherokee
The Farmers H a t 1! Bk:.
9/5/34
Pennsylvania
Oil City
Patton
Pittsburgh
Pottsville
Spartansourg
Oil City national Bk:.
First national Bank
Hatfl Bk.. of America
Merchants H a t !l Bk.
Grange national Bank
9/28/34
9/6/34
9/28/34
9/5/34
9/l/34
95,000.
4,811,000.
1.525.000.
3,495,000
1.789.000.
195,000.
11,815,000.
Texas
Brownwood
White Deer
Citizens national Bk.
First national Bank
Total - 15 Banks
9/28/34
9/28/34
361.000.
104.000.
465,000.
$ 15,005,000
-2-
Governments is extended as a courtesy by the Bureau of the Mint upon
request*
The operation is done at cost,and the foreign Government
furbishes the metal*
More than 15,000,000 pieces were executed for
foreign Governments during the calendar year 1933.
The coinage of subsidiary and minor coins by pieces and value
at the mints during the month of September, 1934 was as follows:
Silver
Dollars
Half Dollars
Quarter Dollars
Dimes
Total Silver
Pieces
Value
53,029
3,490,200
4,872,000
7,960,000
$53,029.00
1,745,100.00
1,218,000.00
796,000.00
16,375,229
3,812,129.00
6,604,000
21,274,000
27,878,000
330,200.00
212,740.00
542,940.00
44,253,229
4,355,069.00
Minor
^ Five Cent Nickel
One Cent Bronze
Total Minor
Total Domestic Coinage
The statistics on unencumbered balances of Subsidiary silver
and minor coins at the mints show that the heavy coinage during
the past few months has been the result of the demand on the
part of the public for more "change* rather than the stocking up
of a reserve supply of coins by the mints themselves*
The total value and number of coins on hand at the Philadelphia
and Denver mints as of October 2, 1934, and at the San Francisco
mint as of September 28, 1934 were as follows:
Halves
Quarters
Dimes
Nickels
Cents
706.000 with a total value of
663.000 »
n
n
w
n
(none at Philadelphia
ftinlkwith orders for
224 #00$
742.000 with a total value of
600.000 "
n . *'
n
n
221.000
w
tr
n
n
n
(none at Philadelphia
Mint, with orders for
8 ,000)
$353,000.00
165,750.00
74,200.00
30,000*00
2 ,210.00
TREASURY DEPARTMENT
Washington
® - O jCA(V^ t
ftfJ p M F M M S D A s
*
k
REfcferSE
1
Press Service
No, 3- Y U
October 4, 1934._____
la-S'" V ?
During the month of September, 1934, the coinage executed at the
A
various mints of the United States totalled 44,253,829 pieces, with a
value of $4,355,069, the Secretary of the Treasury announced today.
Thi^was the largest output oft silver and minor coinage, in p i e c e s , ^
since December, 1929, when 48,106,200 pieces were coined with a value
of $2,274,190,
During the entire calendar year 1933, the total domestic coinage
amounted to 23,109,250 pieces, with a value of $15,136,225,
Of this
amount 758,000 pieces were executed in gold with a total value of
#12,035,000.
The present heavy demand for "change* became apparent with the
/OUuglcAajlA
beginning of the present fiscal yearT
30,042,421 pieces were ooinod ■
A
with a value of $2,176,930
During the month of
Augustj^ijjffil*. 24,759,400 pieces were coined with a value of $1,046,830.
During the month of September, 1933,500,000(1^ pieces made up the
total coinage♦
In addition to the domestic coinage during September, 1934,
1.500.000 pieces were executed for Cuba.
These were silver Pesos.
During the month of August, 1934, 2,500,000 of JLhe .same coin were
executed for Cuba together with 600,000 silver Lempiras for Honduras,
and 1,529,000 silver 50«*Centavo pieces for Colombia.
Nearly
3.500.000 silver coins were executed for Cuba and Panama during the
month of July, 1934
The
e of executing coins for foreign
TREASURY DEPARTMENT
Washington
RELEASE, AFTERNOON P$?|R5,
Friday, October 5, 19l%4;,.
10-4-34.
,
Press Service
N o . .3 - 24
During the month of September, 1934, the domestic coinage executed
at the various mints of the United States totalled 44,253*229 pieces, with
a value of $4,355,069, the Secretary of the Treasury announced today.
This was the largest output of domestic silver and minor coinage, in pieces,
for any month since December, 1929, when 48,106,200 pieces were coined with
a value of $2,274,190.
During the entire calendar year 1933, the total domestic coinage
amounted to -23,109,250 pieces, with a value of $13,136,225,
Of this amount
758.000 pieces were executed in gold with a total value of $12,035,000.
The present heavy demand for 11change" became apparent with the begin
ning of the present fiscal year.
with a value of $2,176,930.
Coinage in July reached 30,042,421 pieces
During the month of August, 24,759,400 pieces
were coined with a value of $1,046,830.
During the month of September, 1933,
500.000 one cent pieces made up the total coinage.
In addition to the domestic coinage during September, 1934, 1,500,000
pieces were executed for Cuba,
These were silver Pesos.
During the month
of August, 1934, 2,500,000 of the same coin were executed for Cuba together
with 600,000 silver Lempiras for Honduras, and 1,529,000 silver 50-Centavo
pieces for Colombia,
Nearly 3,500,000 silver coins were executed for Cuba
and Panama during the month of July, 1934*
The practice of executing coins
for foreign Governments is extended as a courtesy by the Bureau of the Mint
upon request.
The operation is done at cost, and the foreign Government
furnishes the metal.
More than 15,000,000 pieces were executed for foreign
Governments during the calendar year 1933,
The coinage of subsidiary and minor coins by pieces and value at the
mints during the month of September, 1934 was as follows:
Silver
Pieces
Value
53,029
3,490,200
4.872.000
7.960.000
$53,029.00
1,745,100.00
1,218,000.00
796,000.00
16,375,229
3,812,129.00
Five Cent Nickel
One Cent Bronze
6,604,000
21, 274,000
330,200.00
212,740.00
Total Minor
27,878,000
542,940.00
Total Domestic Coinage
44,253,229
4,355,069.00
Dollars
Half Dollars
Quarter Dollars
Dimes
Total Silver
Minor
The statistics on unencumbered balances of subsidiary silver and minor
coins at the mints show that the heavy coinage during the past few months
has been the result of the demand on the part of the public for more "change
rather than the stocking up of a reserve supply of coins by the mints them
selves.
The total value and number of coins on hand at the Philadelphia and
Denver mints as of October 2, 1934, and at the San Francisco mint as of
September 28, 1934 were as follows:
Halves
Quarters
Dimes
Hick els
Cents
706.000 with a total value of
663.000 ’»
«•
"
»
"
(none at Philadelphia
Mint, with orders for
224.000)
742.000 with a total value of
600.000 "
11
"
"
"
p 2 1 , 000 "
H
n
n
H
(none at Philadelphia
Mint, with orders for
8.000)
$353,000.00
165,750.00
74,200.00
30,000.00
2 ,210 .0 0
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 5, 1934.
Reference is made to Press Service No* 3^S4 released for
afternoon papers, Friday, October 5, 1934.
The last paragraph and the table showing the value of coins
on hand at the Philadelphia, Denver and San Francisco mints should
be corrected to read as follows:
^^Statement of unencumbered balances of subsidiary silver and minor
coins at United States mints on dates indicated,^latest available*
Mint, Philadelphia
October Z______
Halve s
$133,000
Mint, Denver
October 2
Mint, San Francisco
September ZQ______
#220,000
#1,000,000
Quarters
224,000 short
141,000
522,000
Dimes
229,000
144,000
369,000
85,000
27,000
488,000
31,000
190,000
Nickels
Cents
8,000 short
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
October 5, 1934.
Reference is made to Press Service No. 3—24 released for after
noon papers, Friday, October 5, 1934.
The last paragraph and the t^ble showing the value of coins on
hand at the Philadelphia, Denver and San Francisco mints should be
corrected to read as follows;
A statement of unencumbered balances of subsidiary silver and minor
coins at United States mints on dates indicated, the latest available,
follows;
Mint, Philadelphia
October 2
Halves
$133,000
Mint, Denver
October 2
Mint, Sgn Francis
Seutember 28
$220,000
$1,000:000
Quarters
224,000 short
141,000
522,000
Dimes
229,000
144,00Q
369,000
85,000
27,000
488,000
. 31i000
190,000
Nickels
Cents
8,000 short
M S
8flEftVM0 BAS* Wft f i t W H i «Pj
ABB A,fflAlS§0 VAbOfcS
eoera# | w
08*100 tHs rise**. ? «
oussiFiEP
|
Be* tf
leisures
4,$80
rnmmmmm**
m
M J J
------ j
[
- ^
y
17J4
timber
tellttt aitidles arulj oedioine *
Vestlles , « # * * * * > • • « •
1st veal * * * * * I * * # # .»
Qua* end onnunition « * « * •
Hardware and epert fe®St * * *
Olgare and sifaretti# t • t «
Beefes and gtasp# * I « * * « •
11$
33
14
(Hseel laneeus * * $ * * # * •
4.580
Value
00, Sf Busber
leisures
3,«57
##»•*•#*
••••*••*
m
13.669
8,8$$
46.155
73,040
$$*!$*
6.85$
4*04d
1685,741
0,030
.
(*>
£
m
A toms**
SIstilled Utuere aid vines
Halt lleuere * * • 1 * * * <
Ateebel * * * * # « # * # «
vbhicu-s usss is viuaiMptisi
iso babooucs**
M
54.654
473.840 4 033,757
w«o®»
aaam
$4$ $191,341
****** 4 *******
# * » ♦ f l 11)* P I # * ♦ ♦
Planes * # * # • • « * « # * • • *
Antes
p H®l§
H e r e o s an d K
^
»
.. I ........ H I
«S d 4 «l * *
m
smili.iMiNeaeenvvaeeiWMPie
ism
(af Veins net reverted.
PREPARED BY
IVISION O f STATISTICS Ia ND RESl
BUREAU O f
CUSTOMS
TREASURY O E P A iT V E N T
44e><!
m
n
:utonsAta j
054,700
14 31 ,13 $
0$,f
3®
88.471.887
— *J
*. Value
ri■ .
10,007
4.675
$ 08,804
(VS* #f)
ii,0*3 (aallens)
ita,04$
babcotics —
e
*33*3
* 5.607
14,140
02,081
48,000
87,687
«.J>)
7,«67
24,101
37«
W
m
m
Value
$00,100
84,184
304.J48
33,458
7»3»8
18,017
7,943
1,7U
1.806
ill®
804
$3
0
5.W7
mmurntm
Obssea* • « # * *
tottery * * « « «
p
m
f v p i ii m i lim it <0 Inn A Silverware
Flip® * * # # * * 4 | ■ # # # * # * ♦ >1
Jovolep and sateh |IS0S * # , * * <
tearing apparel a?
# **<
Edibles » * ♦ •<
Antes * « » • • » I * * * * *
Beats • * * * * * | « t » * * *
2lanes , , # * * * § * * * • ■ *
felvestesli * • • * ! * * # • *
i f |3 a»0 1334,
m m m t n m
$14
88,883
54.764
56,688
7,300
16,574
♦58 5.W
(a)
(*)
$ 40,807
(0e« ef)
11,781 tsallens)
(4)
148,173
8,86$
(4)
44,384 ♦545*445
1$0
/88*0
•40*4
•$0#0
*33*3
•41*5
•08*5
*^8$«0
^875*1
•47*5
*11.0
/1$O0*0
*02*4
/28*4
*^t70*0
>*103*4
/ 14,0
* 43*3
* 44*$
^171*4
• 78*0
* 40.4
•10*$
1*38*9
A9-»
• 40*1
*44*8
•18*$
•80*3
•74*8
* 01*4
Bm»btr
•44*0 • 42*8
$88 ♦109,836
887,658
108
-0$*7 • $0*1
•57*2 • 02*3
0
5,70©
•81*3 _£J2s2-„
23 - ___ 223.
_____ ,JfclslMrftt.*»__ duals
A comparatively small number of seizures were made for
violations not connected with the smuggling of liquor or of
prohibited articles* The number of such seizures during the
fiscal year 1934 was 3,057, a decline of one third from the
number of such seizures during the previous fiscal year (4,580)*
The value of these seizures declined to an even greater extent,
from $629,741 to $325,995, a decrease of 48 percent* The largest
declines in values occurred for furniture and for jewelry. These
declines more than offset increases in the value of seizures of
several other types of merchandise.
In reporting the number and value of customs seizures, only
those actually or physically seized are included* In addition
to such physical seizures, claims for the value of previous im
portations are frequently established which are the basis for
recoveries of a penal nature. The value of such "constructive
seizures" amounted to $942,378 during the fiscal year 1933 and
reached a much larger total during the fiscal year just ended.
The following table presents the detailed information re
garding seizures for the violation of customs laws for the fiscal
years 1933 and 1934*
(3)
The value of distilled liquors, wines and beer was not
reported prior to December 1, 1933; since that date seizures
of distilled and fermented liquors aggregated 28,723 gallons
valued at $269,930, while seizures of malt liquor aggregated
387 gallons valued at $1,280.
The number of vehicles sdized for transporting liquor
or narcotics declined in much the same rqtio as did liquor
seizures.
Only a little more than half as many automobiles
were seized for liquor and narcotic violations during the
fiscal year 1934 as during the preceding year, while the
number of boats and airplanes seized showed an even greater
decline.
A slightly larger number of narcotic seizures were re
ported during the fiscal year 1934 than during the previous
year, although the value of such seizures was 40 percent smal
ler than during 1933.
The greatest number of seizures during the fiscal year
1934, were of articles prohibited under Section 305 of the
Tariff Act of 1930, 23,807 such seizures being made during
the past fiscal year as compared with 18,453 during 1933.
These seizures include lottery tickets, contraceptive devices,
obscene articles, and seditious publications.
(2 )
fj
,
Seizures for violations of Customs laws were fewer in
number and smaller in value during the fiscal year ended
June 30, 1934, than during the preceding fiscal year, it was
announced by the Bureau of Customs today.
The total number of seizures during the past fiscal year
aggregated 38,841, a decrease of 12 percent from the number
reported during the preceding fiscal year (44,261). The total
value of seizures, exclusive of the value of.distilled and
malt liquors, declined to a much greater extent, from
$2,471,287 during the fiscal^year 1933 to $1,115,692 during
the past year, a decrease of 55 percent.
The repeal of the Eighteenth-Amendment resulted in a
marked decline in the number of liquor seizures, only 11,721
being reported during the past fiscal year as compared with
21,013 during the previous year, a decrease of 44 percent.
\
Of the seizures of liquor during the past year, 7,715, or 68
percent were reported prior to December 1, 1933, only 32 per
cent of the total being made during the seven months following
Repeal. The number of gallons of alcoholic beverages seized
also declined, the largest decreases being for beer and for
alcohol for which the percentages of decreases amounted to 81
percent and 74 percent,respectively.
TRE&S'UBY OSP.iHTMliYO
Washington
Press Service
Uoe 3 - 2 5
HSL'5A.SS« MOR 1OTG- mTSPAPERS,
Sunday, October 7, 1934.___
1C~5~34.
Seizures for violations of Customs laws were fewer in number and smaller
in value during the fiscal year ended June 30, 1934, than during the preceding
fiscal year* it was announced hy the Bureau of Customs today.
The total number of seizures during the past fiscal year aggregated 38,841,
a decrease of 1 2 per cent from the number reported during the preceding fiscal
year (44,251).
The total value of seizures, exclusive Of the value of dis*-
tilled and malt liquors, declined to a much greater extent, from $2,471,287
during the fiscal year 1933 to $1,115,592 during the past y~ar, a
55 per cent.
The repeal of the Eighteenth Amendment resulted in a marked decline in the
number of liquor seizures, only 11,721 being reported during the past fiscal
year as compared with 21,013 during the previous year, a decrease oi 44 per cent,
Of the seizures of liquor during the past year, ?',V15, or 68 per cenu were re
ported prior to December 1, 1933, only 32 per cent of the total being made dur
ing the seven months following Repeal,
The number of gallons of alcoholic
beverages seized also declined, the largest decreases being for boor and for
alcohol for which the percentages of decreases amounted to 81 per c^nt and
per cent, respectively.
The value of distilled liquors, wines and bear was not -reported Pn w
. .
.
_
December 1 , 19335 since ‘chat da\;e seizure*.
ran A
to
fermented liquors
°
aggregated 28,723 gallons valued at $259,930, while seizures of malt liquor
aggregated 387 gallons valued at- $1,280©
-
2
-
The number of vehicles seized for transporting liquor or narcotics de
clined in much the same ratio as did liquor seizures.
Only a little more than
half as many automobiles were seized for liquor and narcotic violations during
the fiscal year 1934 as during the preceding year, while the number of boats
and airplanes seized showed an even greater decline.
A slightly larger number of narcotic seizures were reported during the
fiscal year 1934 than during the previous year, although the value of such
seizures was 40 per cent smaller than during 1933.
The greatest number of seizures during the fiscal year 1934, were of
articles prohibited under Section 305 of the Tariff Act of 1930, 23,807 such
seizures being nade during the past fiscal year as compared with 18,453 during
1933.
These seizures include lottery tickets, contraceptive devices, obscene,
articles, and seditious publications.
A comparatively small number of seizures were made for violations not con
nected with the smuggling of liquor or of prohibited articles.
The numbe* of
such seizures during the fiscal year 1934 was 3,057, a decline of one third from
the number of such seizures during the previous fiscal year (4,580).
of these seizures declined to an even greater extent, from $629,741 to $325,995,
a decrease of 48 per cent.
The largest declines iri values occurred for
furniture and for jewelry.
These declines more than offset increases in the
value of seizures of several other types of merchandise.
In reporting the number and value of customs seizures, only those actually
or physically seized are included.
In addition to such physical seizures,
claims for the value of previous importations are frequently established whi
are the basis for recoveries of a penal nature.
The value of such
structivo seizures" amounted to $942,378 during the fiscal year 1933 and
reached a much larger total during the fiscal year just ended.
Tho following table presents the detailed information regarding seizures
for the violation of customs laws for the fiscal years 19o3 and
_ 3 NUMBER AND APPRAISED VALUES OP SEIZURES MADE FOR VIOLATION OP
CUSTOMS LAWS DURING THE FISCAL YEARS 1933 AND 1934,
CLASSIFIED BY COMMODITIES
Fiscal Year
19 3 3
SERCHANDISE—
Furniture, incl. china & silverware.
No. of
Seizures
4,580
Number
______
$80,200
24,186
301,918
33,450
7,381
12,017
7,942
1,711
1,006
10,667
1,675
2,855
Furs ............... . . . . . . . .
Jewelry and watch parts * . . . . *
Wearing apparel and luggage . . . .
Edibles ......................... *
Toilet articles and medicine . . . .
Textiles
Raw w o o l ...............
Guns and ammunition
Value
_____
. . . . . . . .
Hardware and sport goods . . . . . .
Cigars and cigarettes . . ........
Books and stamps . . . . . . . . . .
Autos ............. ..
i B o a t s .............................
Planes
L i v e s t o c k ....................... ..
Miscellaneous ............. ..
215
99
16
48,235
73,040
13,151
6,255
4,044
................ ..
4,580
$629 ,741
PROHIBITED ARTICLES—
Obscane . . . .....................
Lottery . . . . . . . .............
1,107
17,346
(a)
Total
(a)
$ 68,284
215
teOTICS—
o
.
o
21,013
Liquors —
Distilled liquors and wines . . . .
Malt liquors ................. * ? •
Alcohol.
VEHICLES USED IN TRANSPORTING LIQUOR
AND NARCOTICS—
GRAND TOTAL . . . . . .
(a)
Value not reported.
( a)
$893,757
Number
945
297
14
30
, Autos . • • • • ..........
. . . .
Boats
Planes ............... . . . . . . .
Horses and horsedrawn vehicles . . •
,
( gallons)
182,643
51,651
173,810
44,261
$191,961
654,786
32,135
623
$2,471,287
- 4
MJMBER AND APPRAISED VALUES OP SEIZURES MADE FOR VIOLATION OP
CUSTOMS LAWS DURING THE FISCAL YEARS 1933 AND 1934,
CLASSIFIED BY COMMODITIES
(CONTINUED)
No. of
Seizures
Fiscal Year
1 9 3 4
Value
Number
-33.3
3 »057
m e r c h a n d i s e --
Ihrniture, incl. china &
silverware ...............
p a r s ........ * • ............
Jewelry and watch parts • • • •
Wearing apparel and luggage . •
Edibles
Toilet articles and medicine. .
Textiles ................... ..
Raw wool
Guns and a m m u n i t i o n ........ ..
Hardware and sport goods . . .
Cigars and cigarettes . • • • .
Boohs and stamps . . . . . . .
Autos . . . ...................
Boats .. • ................. .. •
Planes . . . . . .............
Livestock «, . ......... . . . .
_______
Miscellaneous
Total
........
3,057
PROHIBITED ARTICLES—
O b s c e n e ........ •
• • • • • •
Lottery ....................... *
264
59
8
GRAND TOTAL
( a)
.... . . . .
Value not reported,
Number
522
10 2
6
23
38,841
/ 2 2 .8
-40.4
-50.0
-33.3
-93.0
-41.5
-82.5
-f25.8
/275.1
-47.5
- 1 1 .0
f L 308.6
-62.4
•7-28.4
-7*270,6
■701
.4
/ 14.0
- 49.9
- 44.5
/171.4
- 72,0
- 48,4
( a)
(a)
-16.5
/■31.9
$40,867
/19.1
- 40.1
(a)
(a)
$345,443
-44.2
-18.9
-80.9
-74.2
- 61.4
$109,836
287,658
5,700
793
-44.8
-65.7
-57.1
-23.3
■/
$1,115,492
-12.2
- 54.9
o
o
LIQUORS—
11,721 (gallons)
”148,173
Distilled liquors and wines . .,
9 *,.865
Malt liquors . . • • • • • • • •
44,924
Alcohol . • • • • • • • • • • •
VEHICLES USED IN TRANSPORTING
LIQUOR AND NARCOTICS—
Autos
• • •
Boats
Planes . . « • • • • • • • • •
Horses and horsedrawn vehicles.
$ 5,607
14,147
52,821
42,006
27,687
6,313
7,067
24,101
378
13,669
6,207
8,090
54,964
36,620
7,300
16,974
1,134
$325,195
^ 2<*
22,883
256
NARCOTICS—
PER CENT INCREASE (■
OR DECREASE (-)
Value
Number
42.8
56.1
82.3
27.3
TREASURY DEPARTMENT
tfit
For
0ctober^#6r1934 *
Washington
Press Service
®E>' fot
KJiO
\
The American Legion Texas Centennial Committee of Austin,
Texas has been notified by the Director of the Mint that 5,000 of
the special Texas Independence Centennial fifty cent pieces have
been executed by the Philadelphia Mint.
The committee has been
requested to furnish information concerning the number desired and
the time when delivery should be made.
Before proceeding with the
coinage, as authorized by the Act of Congress approved June 15,
1933, the Director is awaiting orders of the Centennial committee*
The necessarydies and other preparations for this coinage have been
paid for by the Centennial committee*
Authorization by congress was given for this issue in commemo
ration of the hundredth anniversary in 1936 of the Independence of
Texas and of the sacrifices of her pioneers.
If called upon, the
mint is empowered by the Act to coin up to 1,500,000 of the fifty
cent pieces*
40n one side of the coin a standing eagle is superimposed upon
M-
flffl _
a la,
rge*,"S,<fe!
&r* <fh the reverse side
Fuller
of Stephen/ Austin and Sam Houston.
bear the likenesses
A
p-rprg e m r OULattiA
h
Ree*dws^.baa^ig thyrords Texas Independence Centennial,
"Remember the Alamo"*
K
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE*
October 6 , 1934
Press Service
No* 3 — 26
The American Legion Texas Centennial Committee of Austin, Texas, has
been notified by the Director of the Mint that 5,000 of the special Texas
Independence Centennial fifty-cent pieces have been executed by the Philadelphia
Mint*
The committee has been requested to furnish information concerning the
number desired and the time when delivery should be made*
Before proceeding
with the coinage, as authorized by the Act of Congress approved June 15, 1933^
the Director is awaiting orders of the Centennial Committee.
The necessary
dies and other preparations for this coinage have been paid for by the
Centennial Committee.
Authorization by Congress was given for this issue in commemoration of the
hundredth anniversary in 1936 of the independence of Texas and of the sacxixice^.
of her pioneers.
If called upon, the mint is empowered by the Act to coin up
to 1,500,000 of the fifty-cent pieces.
On one side of the coin a standing eagle is superimposed upon the Lone
Star
of Texas.
On the reverse side may be found the likenesses of Stephen
Puller Austin and Sam Houston.
This side also bears the words "Texas
Independence Centennial", and "Remember the Alamo".
rm&mm d
m iw t
WASHINGTON
FOR RKLEASI, MORNING NFWSPAPSR8,
Monday, October 8, 1954*
Press Service
Ho, ~
->> *7
10 / 5 /3 4
^i
Secretary of the Treasury Mergenthau has announced
that the subscription books
tor
the current offering of 3-1/4
percent Treasury bonds of 1944-46, in exchange
tar
Fourth
Liberty Loan bonds called for redemption on October 15, 1934,
will close at the dose of business Thursday, October 11, 1934,
Any subscription received after the dose of business Thursday
will be rejected,
approximately
The Secretary stated that/# 950,000,000 of the Fourth
Liberty Loan bonds called for redemption on October 15, 1954,
have been exchanged up to this time, #354,000,000 for the
Treasury bonds of 1944-46 in addition to the #596,000,000 pre
viously reported as exchanged for the four-year Treasury notes
of Series P-1938
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Monday, October 8 , 1934,_______
Press Service
Eo. 3 -. 2?
10-6-34.
Secretary of the Treasury Morgenthau has announced that
the subscription books for the current offering of 3—1/4 per cent
Treasury bonds of 1944-46, in exchange for Fourth Liberty Loan
bonds called for redemption on October 15, 1934, will close at
the close of business Thursday, October 11, 1934.
Any subscrip
tion received after the close of business Thursday will be rejected.
The Secretary stated that approximately $950,000,000 of
the Fourth Liberty Loan bonds called for redemption on October 15,
1934, have been exchanged up to this time, $354,000,000 for the
Treasury bonds of 1944—46 in addition to the $596,000,000 pre
viously reported as exchanged for the four—year Treasury notes
of Series D-1938.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
October 8 , 1934.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended October 5, 1934:
Philadelphia............................
......
San F r a n c i s c o ...............
......
Denver ....................... .
......
Total for week ended Oct. 5,
......
Total receipts through October 5, 1934....
616,739.29 fine ounces
2,065.11
"
"
1.834.00
"
«
620,638.40
"
»
14,222,000.00
”
n
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended October 5, 1934:
Philadelphia ............. .......... .
New York................ .
San Francisco.... ........ ..............
Denver...................................
New O r l e a n s ..... .........
Seattle..................................
Total for week ended Oct. 5 ....
Total receipts through October 5, 1934....
8,756.00 fine ounces
tt
tt
1,649,400.00
It
tt
811,561.00
n
tt
701.00
tt
tt
797.00
tt
tt
3,594.00
tt
n
2,474,809.00
tt
tt
93,444,393.00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended October 5, 1934:
Import;
Philadelphia..................
P
7,695.84
New York........ .
1,091,000.00
San Francisco.................
44,414.27
Denver..... ..................
18,273.00
New Orleans..............
2,424.12
Seattle .......................
Total for week ended Oct. 5: $1,163,807.23
Secondary
$346,882.75
167,995.55
49.637.00
77,049.21
27.822.01
$669,386.52
New
Domestic
:
544.11
1,104,600.00
1,219,452.23
536,868.00
282.71
21*583.!
$2,883,331.04
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended October 3, 1934....
Received previously..... .
Total to October 3, 1934.....
Gold Coin
48,997.44
29,100.964.58
$29,149,962.02
$
Received by Treasurer^ Office
Week ended October 3, 1934....
908.00
Received previously...........
251.894.00
Total to October 3, 1934.....
252.802.00
NOTE: Gold bars deposited with the New York Asssy Office
to the amount of $200,572.69 previously reported.
Gold Certificites
892,270.00
$71,188,400.00
$72,080,670.00
18,400.00
1.750.100.00
$ 1,768,500.00
TREASURY DEPARTMENT
Washington
October 8 , 1934*
MEMORANDUM ROB THE PRESS,
silver by the min ts;
(Under Executive Order of December 21, 1933)
receipts o r
Week ended October 5, 1934:
Philadelphia,.........
San Francisco....... .
...........
Denver
Total for week ended Oct, 5
Total receipts through October 5, 1934 ••••
616,739,29 fine ounces
2,065.11
i*
u
1,834,00
n
»
620,638.40
»
"
14,222,000,00
"
8 ,756.00 fine
H
1 ,649,400.00
it
811,561.00
i
t
701.00
t
i
797.00
tt
3 ,594o00
ir
2,474,809.00
tt
)3 t444,393.00
o
Week ended October 5, 1934:
Philadelphia,....... .
Hew Y o r k , .... .
San Francisco. .............. .•..........
Denver................... .
Hew Orleans.................... •••••*•••
S eat tle eo•....•.*••••••••
Total for week ended Oct 0 5 •••*•••••
Total receipts through October 5, 1934 ••••
o
<D
to
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
tt
tt
tl
tt
It
1!
tt
RECEIPTS OP GOLD BY THE MIHTS AHD ASSAY OPPICES s
Week ended October 5* 1934;
Philadelphia, *..»••••••••....
Hew York, •
•
San Francisco............c...•
Denvero
Hew Orleans,• . . . . •
S eat tie,,.,...... .......... . •
Total for week ended Oct ,5:.
_______ Imports
$
7,695,84
1,091,000.00
44,414o 27
18,273,00
2,424.12
$ 1,163,807.23
Secondary
$ 346,882.75
167,995.55
49.637.00
77,049.21
27.822.01
$ 669,386.52
Hew
Domestic
$
544.11
1,104,600,00
1,219.452.23
536,868,00
282.71
21,583,99
$2,883,33x..04
GOLD RECEIVED BY FEDERAL RESERVE BAHKS AHD THE TREASURERS OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks-:
Week ended October 3, 1934..o,...
Received previously.•«•*•••eo..*.
Total to October 3, 1934,,.......
Received by Treasurer's Office:
Week ended October 3, 1934,,0...,
Received p r e v i o u s l y . •
Total to October 3, 1934
.....
HOTE:
Gold Coin
$
48,997,44
29,100,964,58
$29,149,962.02
Gold Certificates
$
892,270,00
71,188,400.00
$72,080,670.00
$
$
$
908.00
251,894.00
252,802.00
Gold bars deposited with the Hew York Assay Office
to the amount of $200,572.69 previously reported.
18,400.00
1,7503100o00
$ 1,768,500.00
m
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
pctober 8 , 1934.
Press Service
No. 3 - 28.
ACTIVITIES OE INVESTIGATORS,
ALCOHOL TAX UNIT, EOR WEEK ENDING- SEPTEMBER 29, 1934.
(Corrected statement based on complete weekly reports
of investigators)
Dist.
No.
States
Stills
Seized
1
Conn.
Maine
Mass.
N. H.
R. I.
Vt.
2
1
Capacity
200
700
Gals.of
Spirits
Seized
Gals, of
Mash
Seized
50
7
17
1,0 0 0
1
.8
83
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
200
7
1
32
800
5
1
2
1
“2
1
849
3
1
$
TOTAL
3
900
166
1,0 0 0
3
$ 1,8 8 6
16
2
N. Y.
8
2,475
801
18,940
1
$10,191
18
3
Penn.
7
868
6,707
2 ,1 1 0
5
$21,076
23
4
Del *
N. J.
7
5,130
1,515
104,500
$ 1,400
3
TOTAL
7
5,130
1,50.5
104,500
$ 1,400
3
D.'C.
Md.
No Car.
Va.
W. Va.
1
100
9
17
900
8,510
19,386
185
8
8
$ 2,070
1,805
20
4
2
1
2,350
2,595
90
60
547
653
316
1,10 0
100
1
155
2
10
TOTAL
30
5,195
1,573
28,981
21
$ 5,230
73
Ala.
Fla.
Ga.
S.Car.
18
5,700
3,695
3,975
462
248
683
9,420
22,628
26,730
4,450
4
3
24
19
31
3
$ 2,738
4,752
4,272
1,469
10
5
6'
1
7
20
24
7
2
55
2,020
1
26
15
TOTAL
69
15,390
1, £593
63,228
11
$13,231
84
Ky.
Tenn.
11
15
615
2,590
105
439
5,050
13,625
1
2
$ 1,029
$ 2,140
15
3
TOTAL
26
3,155
544.
18,625
3
$ 3,169
18
2
Diet.
No.
8
\V.9
States
11
14
15
Gals,of
Mash
Seized
Autos &
Trucks
Seized
4
2,725
140
2,016
45
15,380
1,495
2
TOTAL
16
2,865
2,061
16,875
2
8
1
421
82
23
53,250
2,750
1
4
1,495
450
675
13
2,620
526
58,100
1
5
230
668
4
9
14
111.
Value of
Property
Seized
Arrests
4,754
805
14?
$
5,559
20
$
4,067
50
3,718
16
4
$
7,835
22
$
2,975
155
2,911
10
6,041
70
540
164
2,233
933
3
3
14
15
35
$
2,10 0
6
2
16
La.
Miss.
Tex.
2
110
13
900
32
710
1,690
600
7,072
TOTAL
20
1,240
1,392
9,362
4
7
4
400
57
760
180
36
50
214
63
3,000
1,650
8,850
1,850
2
2
16
1,397
363
15,350
4
$
3,870
2
45
$
4
50
650
720
225
190
315
532
800
1
6
$
2,062
23
175
160
800
3
4
TOTAL
13
Gals.of
Spirits
Seized
12
Ark.
Kansas
Mo.
Okla,
12
Capacity
Mich
Ohio
IncL.
Wise.
10
Stills
Seized
1
1
$
44
Iowa
Minn.
Neb.
N.Dak.
S .Dak.
1
2 12
100
33
114
9
1
500
139
22,000
1
1
1
1
1
TOTAL
8
857
296
23,420
5
Ariz.
Colo.
N.Mex.
Utah
Wyo.
1
100
20
250
2
200
16
226
2,050
1
2
1
TOTAL
3
300
265
2,300
4
$
1,135
10
Cal.
Hawaii
Nevada
2
2
50
350
43
410
1
$
900
8
2
TOTAL
4
1
1
2
200
5
8
3
1
2
-
250
393
410
1
$
900
10
$
159
125
436
1
300
1
1
2
$
720
13
$ 84,305
438
Idaho
Mont •
Ore.
Wash.
.2
115
26
5
137
TOTAL
2
115
168
300
4
GRAND TOTAL
232
42,757
18,163
337,121
78
3
9
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS*
Tuesday^ October 9, 1934*____
10/8/84
Press Service
»
Q
S - l - J
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $78,000*000* or thereabouts,
of 182-day Treasury bills* dated October 10* 1934* and
maturing April 10* 1988* which were offered on October 8*
were opened at the Federal reserve banks on October 8*
1934.
The total amount applied for was $282*204*000* of
which $75,860*000 was accepted. The accepted bids ranged
in price from 99.908* equivalent to a rate of about 0.19
percent per annum* to 99.871* equivalent to a rate of
about 0.26 percent per annum* on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99*881 and the average rate is shout 0.24 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT.
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 9, 1934.______
Press Service
No. 3 - 2 9
10-8-34.
Secretary of the Treasury Morgenthau announced last eveningthat the tenders for $75,000,000, or thereabouts, of 182-day
Treasury bills, dated October 10, 1934, and maturing April 10,
1935, which were offered on October 5, were opened at the Federal
reserve banks on October 8 , 1934.
The total amount applied for was $232,204,000, of which
$75,360,000 was accepted.
The accepted bids ranged in price
from 99.905, equivalent to a rate of about 0.19 per cent per annum,
to 99.871, equivalent to a rate of about 0.26 per cent per annum,
on a bank discount basis.
latter price was accepted.
Only part of the amount bid for at the
The average price of Treasury bills to
be issued is 99.881 and the average rate is about 0.24 per cent
per annum on a bank discount basis.
BUFFALO, N. Y., P.O.
-
2-
IO-9-34 .
Mr. Gaston
Immediate steps will be taken to acquire the site
selected and to prepare plans and specifications for the
proposed new building.
BUFFALO, N. Y . , P.0
TREASURY DEPARTMENT
WASHINGTON
October 9, 1934-*
PROCUREMENT DIVISION
PUBLIC WORKS BRANCH
IN REPLYING QUOTE THE ABOVE SUB- T J T 1 7 _
JECT, BUILDING, AND THESE LETTERS * " ”
A S S t .D ir .
The Secretary of the Treasury and the Postmaster
General have approved the recommendations of their sub
committee respecting the character of the public building
project to be undertaken in Buffalo, New York and have
authorized the acquisition of the block bounded by Court,
Franklin and Niagara Streets and Niagara Square, at a
price not to exceed $74-8 ,200 , as the location for the pro
posed new building.
The total limit of cost for site, construction, and
all administrative expenses has been fixed at $ 2 ,250 ,000 .
The building contemplated on the site mentioned will
be a basement and eight stories with a ground area of ap
proximately 23,700 square feet. Its design will harmonize
with adjacent buildings located on Niagara Square.
It is proposed to house in the new building the Federal
Courts, a financial station for the Post Office Department
and a number of other activities which cannot be accommodated
in the present Post Office and Court House Building.
When the new building is completed a separate project
will be authorized for the remodeling of the present Post
Office and Court House Building for the accommodation of. the
Post Office Department and other Governmental activities re
quiring space in Buffalo which will not be assigned space in
the new building.
TREASURY DEPARTMENT
Washington
Press Service
No. 3 - 30
FOR IMMEDIATE RELEASE,
October 9, 1934.
The Secretary of the Treasury and the Postmaster General have approved
the recommendations of their sub-committee respecting the character of the
public building project to be undertaken in Buffalo, Hew York and have
authorized the acquisition &
the block bounded by Court, Franklin and
Hiagara Streets and Niagara Square, at a price not to exceed $748,200, as
the location for the proposed new building.
The total limit of cost for site, construction, and all administrative
expenses has been fixed at $2,250,000.
The building contemplated on the site mentioned will be a basement and
eight stories with a ground area of approximately 23,700 square feet.
Its
design will harmonize with adjacent buildings located on Niagara Square.
It is proposed to house in the new building the Federal Courts, a
financial station for the Post Office Department and a number of other
activities which cannot be accorainadated in tiie Preseilt Pos‘t
an<* C!ourb
House Building.
When the new building is completed a separate project will be authorized
for the remodeling of the present Post Office and Court House Building for
the accommodation of the Post Office Department and other Governmental
activities requiring space in
Buffalo which will not be assigned space in
the new building.
Immediate steps will be taken to acquire the site selected and to
prepare plans and specifications for the proposed new building.
DISTILLED LI&UORS AND NINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
December, I933 - September, 1934, IncI*
Totals
Deo* 1933 to
(p+
1934
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
STILL WINES (Liquid Gallons)}
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entdred into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at bbginnlng of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
DUTIES COLLECTED ON Distilled Liquors
Still Wines
Sparkling Wines
Total
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
August (b)
1934 |B
July
1934
Septet
.15)
4, 524,648
313:469
4,838,117
388,934
4,449,
349,
4,794,
3:770,155
4,529,297^
339,083
4,868,380
343,732
4,529:297
4,524,648
4,449,183
4,294,
230,001
1,838,134
4,33.4,757
4,544,758
2,706,624
271:477
2,10 9 ,6 11
1,992)
136,
2,129,
140,790
1,968,821
149:496
2,118,317
125,893
1 ,838,134
1,968,821
1,992,424
l,9 7 4 i
49,550
623,895
673:445
335:022
338,423
19,168
357:591
13:596
343:995
11,2 3 0
355,225
12,065
351)
1^)
338,423
343:995
343,160
335)
$18,644,429
3:379,848
$1 ,688,529
175:382
$1 ,919,037
157,10 3
$2,41*1
28,044
8,291,408
8,319,452
1.999.U6___
$24,023,703
79,506___
$1 ,943,417
(a) Including withdrawal* for chip supplies and diplomatic use*
#REPAREO BY
DIVISION OF S T A T IS T IC S AND RESEARCH
*4“
erwr
r v t
499;
155)
343)
8)
193)
T h M ____
$2,147,756
(b) Revised*
-1 1
$2,705
(0) Pr®*
?*f
DISTILLED LIQUORS AND HUES
IMPORTATIONS, DUTIES COLLECTED, AES SfGOES IN CUSTOMS BONDED War
D««ember, 1333 - September, I334, Xnel.
Totals
Doe* I333 to
1934
DISTILLED LIQUORS (Proof G a llo n s ):
Stock Is Customs Bonded Warehouses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consuaption (a)
Stock in Cuotons Bonded Ware
houses at end of aenth
STILL VINES (Liquid Callous)$
Stook in Customs Bonded Ware
house# at beginning of aenth
Total Xapart0 (free and Dutiable)
Available for Consuaption
Entdrod into Consumption (a)
Stook In Custoas Bonded Ware
houses at end of month
SPARKLINO VINES (Liquid Gallons):
Stook in Cuotorac Bonded Ware*
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stook in Customs Bonded Ware
houses at end of month
DUTIES COLLECTED ON •
Distilled Liquors
Still Vines
Sparkling Vinos
Total
28,044
8,231,408
8*319*452
3*790,155
J u ly
m ±
4,529*297
339*083
4,868,380
WWWWfO BY
DIVISION
OP fTAYtgfJCs and Research
BUREAU OP CUSTOM'S
treasury
d epar tm en t
j
..
» 55233
4,521 4,4
31)
3
4,7:
343*732
4
4,529*2 37
4,524,648
4*41) 4,2!
1 ,3^8 1*9
1
14),
230,001
1 ,838,134
4*314,757
*71*477
4*544,758
2,706,624
2,10 5,611
140,730
2,118, 2,1
125,
1
1*838*134
1 ,368,821
1*9)2 1*9'
43,550
338*423
19,168
34)i
357*591
13*596
355,
33«*423
343*995
343,
$18,644,423
3*379*848
— l*-i9.9.*426
$1 ,688,529
175*382
7*.<S06
$1*9D* 2*4:
157*:
l!
___ 2k
$24,023,703
$1 ,343,417
$2,147*! 12,71
623,835
673*445
335*022
(a) Including withdrawals for ship supplies and diplomatic use*
division
Sep
y
11*
12
,
(b) Revise
3!
3:
»ri
.
> WAR
■■. L n r a i ' s o k tw m m m o
dgtu i
ji s L l k i a lo siseXIag &8c;?
|
■ ■ "I t
S
s b
a s l a i
s G G i?
3
Totals
SeptsmWr (e) &© © # $ f t o
iMl
: 59 ,
St
jbujoi ••:•.. .
■.■"
ad •:
^jjpgmJt ao tsrocJJ oe zslkisfi
524 4,449 >183
313
4,838
345457
4,774,340
368
499,714
28,044
9,2 89,117
9,317,161
5,022,$3$
4,443
4,294,626
4,294,*2*
,968
1,992,424
136,968
2,129,392
125, t 155,383
230,001
1 ,872,*98
5,i®2,699
3,128,*90
,9?2;
1,974,009
1,974,009
343i
12,
343,1*0
8,800
351,9*0
16,053
49,550
663,093
712,*43
376,736
J4 J ,
3 3 S .3 C
335,907
14?,
,118 ,
11,
m
$24,668,643
,91?> 2,416,648
193,477
i§ 7 *
3,905,810
71,! .— ,95,311....
$50,820,312
P re lim in a ry *
■iv5
Ssf.si
\ ’'- <
1
in
.
MBdf
c.mli aoitasi/eiioo b & ie fm mn±w
3 ScJO,d l foils r r r r r U i i B 1c
prrr, v
Ot&l 8
1 .1 9 3 3
t0
L'
1 28,0 44
due gai /oris oLs^o-t saeri* 1?
1,294,626
335*907
risse «£O i 3
0 s;i£3Ci(nor>
fa1 f # i 3 s/r x'ff-' f)rrs §5<tou r xX no fts ■?osl£ Xor> 00 xXfjc.T
j <XCF 0xfX ' X0 -X T3 0 *T3Cj[
1 s*1000x1‘ao &0lo s lx -c m m
.E m
1 [>S'X.5 0 'i7.!OD Bj£
I
I - ?
n; ■:
' <'flit ■ j
- c tta***m .
rvg f ■$»;
••••■•• *TQg f}~\ f“
■* ■ ’ p ' P l
! ■- ! C' ■ +~ U*?:1 ~
| cwvi-
, .*■■ r*0^
v Jj3 X'*f.3^ •>*i‘
’ ' '<
••
:•
V-. i P- -- ‘i •' ■3 ■-•
al'ioqisi b&aidsiQo o;(l'535oeoxs djrjao
ii} ------sa ••■'•<• - Six®
■ 24,668,643
■ 3,905,810
■ 2,245,851—
130,820,312
to
MBOOS..!.;. ,:.J , ims^UA zzlzssb SSV. ?*>X, g i i l i f
P 5 - ° “ * « ••>-
1
I?
:;:7 vs S i
1,974,009
49,550
1 663,093
1 712,643
1 376*736
<
p aliitK lfo t o ’ •-’.•tgpqrsl na &Sv o o llo r a siiifft Isfro?
•D®-XX0O 2C*X■-XJL'
■ 290,001
1.872.698
1.102.699
1,128,690
-f
S
s d i TOt tSSOlii ^ISTO 2&as?r!0
1 289,117
1 t3l 7»l 6 l
1 022, 535
o
m l 3333^X33 ■-•'■■■■:,’
, 'lr..r;
■
m
g r 'll? <.11 itlw b in 3 =, :o3
’i '* * ,‘*iw
« o llo
feel-tiffi 5.13 a©air? M r -rxo o r.il is rI its^ ■ Vilo ;a^ioc
1
of wines entered consumption during September than was im
ported, 155,383 gallons of still wines and 16,053 gallons
of sparkling wines being released from Customs custody for
consumption, each of these totals showing substantial in
creases over those for the previous month*
Total duties collected on imports of distilled liquors
and wines aggregated $2,705,436 during the past month as
compared with $2,147,756 during August, an increase of 26 per
cent. Duties collected on liquors and wines during September
represented *^5 per cent of the total duties collected
($36,174,122), while duties collected on liquors and wines
during August aggregated 94 per cent of the total duties col
lected ($22,952,077).
As a result of the reduction in rates of duty on rum
from Cuba to $2.50 per proof gallon, as compared with $4.00
per gallon prior to September 4, when the Cuban reciprocity
treaty became effective, imports of Cuban rum during the past
month exceeded the combined imports for the two previous months.
September imports of Cuban rum aggregated 23,487 gallons, as
compared with 11,717 in July and 11,642 gallons in August.
The following table presents a detailed statement of im
ports of distilled liquors and wines and duties collected
thereon:
( 2)
Imports of liquor during September, according to prelim
inary figures just compiled, aggregated 345,157 gallons, an
increase of 31,688 gallons, or 10*1 per cent, over the imports
for the previous month, it was announced by the Bureau of
Customs today.
The increase in September imports of distilled liquor
marked the end of the steady decline in such imports since
jqO
May, when an aggregate of 1,048 gallons was imported.
For the third successive month a greater amount of im
ported distilled liquors entered into consumption than was
actually received. During September 499,714 proof gallons
of imported liquor paid duty and passed into the hands of the
ultimate consumer, an increase of 110,780 gallons, or 28*5
per cent, over the amount released for consumption during
the previous month.
At the end of September there remained in Customs bonded
warehouses 4,294,626 proof gallons of distilled liquors, or
46.2 per cent of the total amount of distilled liquor imported
during the ten months since Repeal (9,289,117 gallons).
Imports of both still and sparkling wines during Sept
ember were the lowest since Repeal, only 136,968 gallons of
still wines and 8,800 gallons of sparkling wines being re
ceived from abroad during the past month. A greater amount
( 1)
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Thursday, October 11, 1934.
Press Service
No. 3 - 3 1
10-10-34.
Imports of liquor during September, according to preliminary figures just
compiled, aggregated 345,157 gallons, an increase of 31,688 gallons, or 10.1
per cent, over the imports for the previous month, it was announced by the
Bureau of Customs today.
The increase in September imports of distilled liquor marked the end of
the steady decline in such imports since May, when an aggregate of 1,048
gallons was imported.
For the third successive month a greater amount of imported distilled
liquors entered into consumption than was actually received.
During September
499,714 proof gallons of imported liquor paid duty and passed into the hands
of the ultimate consumer, an increase of 110,780 gallons, or 28.5 per cent,
over the amount released for consumption during the previous month.
At the end of September there remained in Customs bonded warehouses
4,294,626 proof gallons of distilled liquors, or 46.2 per cent of the total
amount of distilled liquor imported during the ten months since Repeal
(9,289,117 gallons).
Imports of both still and sparkling wines during September were the lowest
since Repeal, only 136,968 gallons of still wines and 8,800 gallons of sparkling
wines being received from abroad during the past month.
A greater amount of
wines entered consumption during September than was imported, 155,383 gallons
of still wines and 16,053 gallons of sparkling wines being released from
- 2 -
Customs custody for consumption, each of these totals showing substantial in
creases over those for the previous month*
Total duties collected on imports of distilled liquors and wines ag
gregated $2,705,436 during the past month as compared with $2,147,756 during
August,' an increase of 26 per cent.
Duties collected on liquors and wines
during September represented 75 per cent of the total duties collected
($36,174,122), while duties collected on liquors and wines during August ag
gregated 94 per cent of the total duties collected ($22,952,077).
As a result of the reduction in rates of duty on rum from Cuba to
$2.50 per proof gallon, as compared with $4.00 per gallon prior to September
4, when the Cuban reciprocity treaty became effective, imports of Cuban rum
during the past month exceeded the combined imports for the two previous months.
September imports of Cuban rum aggregated 23,487 gallons, as compared with
11,717 in July and 11,642 gallons in August.
The following table presents a detailed statement of imports of distilled
liquors and wines and duties collected thereon:
DISTILLED LIQUORS AND WINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREIfOUS^
December, 1933 - September, 1934, Incl.
f
Totals
Dec. 1933 to
August,1934
September (b)
1934
Totals
Dec. 1933 to
Sept. 1934
•
DISTILLED LIQUORS (Proof Gallons) •
Stock in Customs Bonded Warehouses at beginning of month
Total Imports (free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Warehouses at end of month
28,044
8,291,408
8,319,452
3,790,155
4,449,183
345,157
4,794,340
499,714
28,044
9,289,117
9,317,161
5,022,535
4,529,297
4,294,626
4,294,626
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Warehouses at end of month
230,001
4,314,757
4,544,758
2,706,624
1,992,424
136,968
2,129,392
155,383
230,001
4,872,698
5,102,699
3,128,690
1,838,134
1,974,009
1,974,009
49,550
623,895
673,445
335,022
343,160
8,800
351,960
16,053
49,550
663,093
712,643
376,736
338,423
335,907
335,907
$18,644,429
3,379,848
1,999,426
$2,416,648
193,477
95,311
$24,668,643
3,905,810
2,245,859
$24,023,703
$2,705,436
$30,820,312
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Warehouses at end of month
DUTIES COLLECTED ON Distilled Liquors
Still Wines
Sparkling Wines
Total
(a)
Including withdrawals for ship supplies and diplomatic use#.
(»> Preliminary.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 11, 1934.
Reference is made to Press Service No. 3-31, for release
afternoon newspapers Thursday, A n j m h 11, 1934.
Page 2, paragraph
beginning "Total duties collected" should read as follows:
"Total duties collected on imports of distilled
liquors and wines aggregated $2,705,436 during the past
month a s ‘compared with $2,147,756 during August, an
increase of 26 per cent. Duties collected on liquors
and wines during September represented 7.5 per cent of
the total duties collected ($36,174,122), while duties
collected on liquors and wines during August aggregated
9.4 per cent of the total duties collected ($22,952,077)."
TREA.SURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
October 11, 1934,
Reference is made to Press Service No, 3-31, for release
afternoon newspapers Thursday, Qfeiobo? 11, 1934,
Page 2, paragraph
beginning "Total duties collected" should read as follows:
"Total duties collected on inoports of distilled
liquors and wines aggregated $2,705,436 during tne past
month as compared with $2,147,756 during August, an
increase of 26 per cent.
Duties collected on liquors
and wines during September represented 7,5 per cent^of
the total duties collected ($36,174,122), while duties
collected on liquors and wines during August aggregated
9,4 per cent of the total duties collected ($22,952,077).
treasury department
Washington
MEMORANDUM FOR THE PRESS.
October 11, 1934.
Correction should be made in the second paragraph, first page,
of Press Service No. 5-31, for release, afternoon newspapers, Thursday,
October 1 1 , 1934.
'
I
The figure "1,048" gallons at the end of the second line of
that paragraph should read "1,048,190.»
}
TREASURY DEPARTMENT
Washington
October 11, 1934#
MEMORANDUM EOR THE PRESS
Correction should he made in the second paragraph, first page
of Press Service No. 3-31,.for release, afternoon newspapers,
Thursday, October 11, 1934.
The figure 111,04811 gallons at the end of the second line of
that paragraph should raad
1,048,190.n
yoosTH Lim m r mm 4-1/4 ro o m
fQflQl Of THIRD CALL IDS PARTIAL HfWPfXOir BTFORf MATURITY
1*o Holders of fourth Liberty Loan 4-1/4 percent Bonds of l93?-38 endOjhfE*
Public notice is hereby givens
1. All outstanding fourth Liberty Loan 4-1/4 percent bonds of 1933-38
(fourth 4-1/4* s) bearing serial numbers the final digit of which is
or
(such serial numbers in the case of permanent coupon bonds being pre
fixed by the corresponding distinguishing letter
or
» respectively),
are hereby called for redemption on April 15, 1935, on which date interest on
such bonds called for redemption will cease.
2. this third call for partial redemption is made pursuant to the provi
sion for redemption contained in the bonds and in treasury Department Circular
So. 121, dated September 28, 1918, under which the bonds were originally
issued, the bonds to be redeemed having been determined by lot in the manner
prescribed by the Secretary of the treasury.
3. Outstanding fourth 4-1/4* s bearing serial numbers (and prefix letters)
other than those designated are not included in or affected by this third call
for partial redemption.
Holders of fourth 4-1/4*s now called for redemption on April 15, 1935,
may, in advance of that date, be offered the privilege of exchanging their
third-called bonds for other interest-bearing obligations of the United States,
in which event public notice will hereafter be given.
full information regarding the presentation and surrender of fourth 4-1/4*s
under this call is given in Department Circular Ho. 525, dated October 12, 1934.
HBHsf mamrmv, «n*.,
Secretary of the Treasury
Treasury Department,
Washington, October 12, 1934.
fourth 4-1/4* s bearing serial numbers ending in 1, 2, 8, 9 or 0, have
heretofore been called for redemption.
TREASURY DEPARTMENT
WASUIhGTOH
For Immediate release.
October 12, 1934.
Secretary of the Treasury Morgenthau today announced that approximately
#1,870,000,000 of the outstanding 4-1/4 percent Fourth Liberty Loan bonds of
1933-38 hare been called for redemption on April 15, 1933. The bends included
in this third call for partial redemption are those bearing serial numbers
ending in the digit
or
•
One year ago approximately #6,268,000,000 of the Fourth 4-1/4’s cere out
standing. On October 12, 1933, about #1,880,000,000 of the bonds were called
for redemption on April 15, 1934 and on April 13, 1934, about #1,250,000,000
were culled for redemption on October 15, 1934.
Accordingly
one-half thje out
standing Fourth Loan was included in the first two calls. Thrcugh refunding
during the past year about #2,750,000,000 of the bonds of this Loan hare been
exchanged for other interest-bearing obligations of the United States, while
about #380,000,000 of the bonds included in the first two calls either have been
paid or will be paid in cash.
The Secretary invites the attention of holders of the bonds Included in the
third call for redemption to the fact that interest on such bonds will cease on
April 15, 1935, and states that it is probable that prior to that date the
holders may be offered the privilege of exchanging their called bonds for other
Interest-bearing obligations of the Halted States.
The text of the formal aotice of call is as follows:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
October 12, 1934*
Secretary of the Treasury
Morgenthau today announced that approximately
-r
$1,870,000,000 of the outstanding 4-1/4 percent Fourth Liberty Loan bonds of
1933-38 have been called for redemption on April 15, 1935.
The bonds included
in this third call for partial redemption are those bearing serial numbers
ending in the digit
5, 6 ,
or 7
»
One year ago approximately $6,268,000,000 of the Fourth 4-l/4*s were out
standing.
On October 12, 1933,about $1,880,000,000 of the bonds were called
for redemption on April 15, 1934 and on April 13, 1934, about $1,250,000,000
were called for redemption on October 15, 1934.
Accordingly one-half the out
standing Fourth Loan was included in the first two calls.
Through refunding
during the past year about $2,750,000,000 of the bonds of this Loan have been
exchanged for other interest-bearing obligations of the United States, while
about $380,000,000 of the bonds included in the first two calls either have
been paid or will be paid in cash.
The Secretary invites the attention of holders of the bonds included in
the third call for redemption to the fact that interest on such bonds will
cease on April 15, 1935, and states that it is probable that prior to that
date the holders may be offered the privilege of exchanging their called bonds
for other interest-bearing obligations of the United States.
The text of the formal notice of call is as follows:
FOURTH LIBERTY LOAN 4~l/4 PERCENT BONDS OF 1933-38
NOTICE OF THIRD CALL FOR PARTIAL RSDEHFTICN BEFORE MATURITY
To Holders of Fourth Liberty Loan 4-1/4 percent Bonds of 1953-58 and Others
Concernedr
Public notice is hereby given:
1. All outstanding Fourth Liberty Loan 4-1/4 percent bonds of 1933-38
(Fourth 4-1/4’s) bearing serial numbers the final digit of which is 5 , 6 ,
or 7
(such serial numbers in the case of permanent coupon bonds being pre
fixed by the corresponding distinguishing letter e , F,
or
Q- , respectively),
are hereby called for redemption on April 15, 1935, on which date interest on
such bonds called for redemption will cease.
2. This third call for partial redemption is made pursuant to the provi
sion for redemption contained in the bonds and in Treasury Department Circular
No. 121, dated September 28, 1918, under which the bonds were originally
issued, the bonds to be redeemed having been determined by lot in the manner
prescribed by the Secretary of the Treasury.
3. Outstanding Fourth 4 -l/4 rs bearing serial numbers (and prefix letters)
other than those designated are not included in or affected by this third call
for partial redemption.
Holders of Fourth 4-1/4’s. now called for redemntion on April 15, 1935,
may, in advance of that date, be offered the orivilege of exchanging their
third-called bonds for other interest-bearing obligations of the United States,
in which event public notice will hereafter be given.
Full information regarding the presentation and surrender of Fourth 4-l/4 s
under this call is given in Department Circular No. 525, dated October 12, 1934.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury
Treasury Department,
Washington, October 12, 1934*
Fourth 4-1/4’s bearing serial numbers ending in 1, 2, 8 , 9 or 0, have
heretofore been called for redemption.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Saturday, October 13, 1934.
10-12-34
Press Service
No. 3 - 3 2
Only 455 seizures of liquor for violation of Customs laws were reported
during the month of September, it was announced by the Bureau of Customs today.
The number of liquor seizures in September compares with 441 during the
previous month, and 1,759 during September, 1933.
September seizures included
775 gallons of distilled liquors and wines, 17 gallons of beer and 750 gallons
of alcohol.
Each of these totals is smaller than the amounts reported during
the previous month, when 3,973 gallons of liquors and wines, 42 gallons of
beer and 967 gallons of alcohol were seized.
More than two-thirds of the al
cohol seized during September constituted a single seizure of 505 gallons in
Puerto Rico.
Of the vessels seized for the transportation of liquor during September,
there were 21 automobiles, with an aggregate value of $4,543 and 1 boat.
This
compares with 23 automobiles, valued at $3,667, 4 boats and 1 airplane, seized
during the previous month.
During September, 1933, on the other hand, 56
automobiles valued at $12,188, 17 boats valued at $66,960 and 2 airplanes
valued at $3,000 were seized for the transportation of alcoholic beverages.
Most of the seizures during Sectember were made along the Mexican border,
where 276 seizures were reported, as compared with 230 during the previous
month, and 260 during September, 1933.
Seizures along the Atlantic coast were
confined to the New York, Philadelphia and Massachusetts Customs Districts,
and consisted very largely of shipments improperly labeled.
Liquor smuggling
along the Canadian border has almost ceased, the number of seizures declining
from 1,261 in September, 1933,, to 29 during the past month.
-
2
-
The following table shows the number of seizures, the number of gallons
of beverages seized, and the number and value of seized vehicles for the month
of September and for the corresponding month of last year, the various govern
mental agencies which made the seizures being listed separately::
- 3 LIQUOR SEIZURES FOR VIOLATIONS OF CUSTOMS LAWS
September, 1933 and. 1934
Vehicles Used in
Transportation
Number of
Liquor
Seizures
Gallons Seized
:
Distilled :
:
Liquors
:
:
and Wines : Beer : Alcohol1 Number
: Value
CUSTOMS SERVICE
September, 1933
1,724
3,133
2,523
601
50
$14,493
1934
448
746
17
750
20
4,538
September, 1933
14
10,462
-
7
64,600
-
-
-
-
-
18
61
116
2
60
5
23
-
1
1
3
4
14
16
2,995
2
6
-
-
1
5
1,759
13,660
2,523
731
75
$82,148
455
775
17
750
22
4, 544
it
COAST GUARD
ti
1934
IMMIGRATION SERVICE
September, 1933
i»
1934
OTHER AGENCIES
September, 1933
ii
1934
TOTAL SEIZURES FOR
LIQUOR VIOLATIONS
September, 1933
it
1934
tion was exhausted on May 20 of this year. Painting in oils proved
most popular with the artists as 3,821 oil paintings and 54 portrait
were executed. 1,076 etchings were completed. 2,938 water colors
and 647 pieces of sculpture were done.
This art went into public schools which had never previously
had a picture, into offices, public libraries, museums and into
practically every type of public owned building.
TREASURY DEPARTMENT
Washington
^jn'T'V
RELEASE,MORNING PAPERS,
1934*
October
Press Service
No* 3 - 3 % ^
1
/o - f
Paintings and other works of art which resulted from the Public
Works Art Project under the direction of Assistant Secretary of the
Treasury, L.W. Robert, Jr. have practically all been allotted to
public buildings throughout all sections of the country, it was
announced today. Production of the works of art ceased the latter
part of May, 1934, and the distribution marks the conclusion of the
project which was designed to aid those of artistic inclination
during the past winter.
This marks the end of one of the more
interesting and unusual emergency relief activities.
A complete report on the activities of the project will be made
to the Federal Emergency Relief Administrator in the near future. It
will contain a complete description of the work accomplished end in
addition a list of all of the names of thtfrse who engaged in production
of art work and embellishments for public buildings throughout the
country*
^
,
CUU..A-V g n allottment of 11,312,177.93 was made by the Federal Emergency
Relief
fllililliiaTifr- The project
commenced December 8, 1933. An advisory committee to the Treasury
on fine arts composed of six leading authorities
set up fln "n
maparJtty to outline policies. In addition five directors
were named to coordinate and supervise procedure. The country was
then divided into sixteen regions and a regional chairman named
for each district.
In all, more than 600 private citizens interested
in the field of art willingly contributed their services and expert
knowledge in administering the project successfully at no cost to the
Government.
p p l a n ^ o set
whaeh ■wwaW give the artists the largest measure
of freedom of expression and practically complete freedom to employ
0 f media best suited to their use, at the same time insuring for the
Government works of art which would in fact embellish public buildings.
The general theme wThe American Scene* was selected-providing stimulus
for imagination's!nee it allowed a wide range of subject matter. Those
wofcks of art, sculpture or painting^-or the products of a craft, which,
in the opinion of those directing the project, constituted an Embellish
ment of public property, came within the scope of the work which could
be done.
A dual test was set up in the selection of those employed. First,
they had to be in need of employment, and second, they must be qualified
as artists to producm work which would in fact be an embellishment to pub
lie p r o p e r t y S W D ' ^ f r t i s t s -were given employments Approximately 15,663
pictures and other work of art were completed ai/the time the appropria-
ud
3
TREASURY DEPARTMENT
Washington
FOR RELEASE* MORNING PAPERS,
Saturday, October 13, 1934.
10-12-34.
Press Service
No.. 3. - 33
Paintings and other works of art which resulted from the Public
Works Art Project under the direction of Assistant Secretary of the
Treasury, L. W,. Roberts Jr*, have practically all been allotted to
public buildings throughout all sections of the country, it was
announced today..
Production of the works of art ceased the latter
part of May, 1934, and the distribution marks the conclusion of the
project which was designed to aid those of artistic inclination
during the past winter.
This marks the end of one of the more
interesting and unusual emergency relief activities.
A complete report on the activities of the project will be made
to the Federal Emergency Relief Administrator in the near future.. It
will contain a complete description of the work accomplished and in
addition a list of all of the names of those who engaged in production
of art work and embellishments for public buildings throughout the
country.
Expenditures were under the supervision of the Treasury Department
and an allotment-
of.$1,312,177.93 was made by the Federal Emergency
Relief Administrator.,
The project commenced December 8 , 1933.. An
advisory committee to the Treasury on fine.arts composed of six leading
authorities was get up to outline policies.
In additiona five directors
were named to coordinate and supervise procedure..
The country was then
divided into sixteen regions and a regional chairman named for each
district.
In all, more than 600 private citizens interested in the
field of art willingly contributed their services and expert knowledge
in administering the project successfully at no cost to the Government.
-
2
-
The plan of operation was designed to give the artists the largest
measure of freedom of expression and practically complete freedom to employ
media best suited to their use, at the same time insuring for the Government
works of art which would in fact embellish public "buildings.
The general theme
11The American Scene'* was selected, providing stimulus for imagination, since
it allowed a wide range of subject matter.
Those works of arts sculpture
or painting or the products of a craft, which, in the opinion of those
directing the project, constituted an embellishment of public property, came
within the scope of the work which could be done.
A dual test was set up in the selection of those employed.
First,
they had to be in need of employment, and second-, they must be qualified as
artists to produce Y/ork which would in fact oe an embellishment to public
property.
Artists given employment numbered. 3749r
Approximately 15,663
pictures and other work of art were completed at the time the appropriation
was exhausted on May 20 of this yean*.
Painting in oils proved, most popular
with the artists as 3,821 oil paintings and. 54 portraits were executed...
1,076 etchings were_ completed.
2,938 wa.ter colors and. 647 pieces of
sculpture wore done.
This art went into public schools which had. never previously had. a
picture, into offices, public_libraries, museums and into practically every
type of public-owned building.
SUMMARY
TREASURY-PUBLIC BUILDING PROGRAMS
P.W.A. AND EMERGENCY
State
No,
Totals
Virginia
15
1,621,657
Washington
12
1,496,300
9
1,045,300
11
904,100
Wyoming
4
270,000
Alaska
1
300,000
Hawaii
3
192,000
Puerto Rico
2
282,500
Virgin Islands
1
125,000
All States (Minor Repairs)!
1,540,000
West Virginia
Wisconsin
GRAND TOTALS
812
#132,017,535
SUMMARY
TREASURY-PUBLIC BUILDING PROGRAMS
P.W.A. M D
State
EMERGENCY
No.
Allocation
8
1,068,000
11
6,171,420
Montana
8
430,400
Nebraska
7
438,600
Nevada
2
75,000
New Hampshire
6
370,500
New Jersey
31
4,242,189
New Mexico
7
Mississippi
Missouri
558 ,064.
101
3 2 ,79 8 ,223
17
1,906,834
4
96,250
Ohio
38
3,456,158
Oklahoma
13
849,700
9
559,616
Pennsylvania
62
5,843,500
Rhode Island
2
1,072,000
South Carolina
8
1,223,900
South Dakota
2
195,000
Tennessee
15
1,112,151
Texas
37
8,384,040
2
179,612
10
828,985
New York
North Carolina
North Dakota
Oregon
Utah
Vermont
SUMMARY
TREASURY-PUBLIC BUILDING PROGRAMS
State
No.*X
Allocation
Alabama
12
f1,367,410
Arizona
S
1,156,809
Arkansas
6
6 $0,000
57
12,362,763
Colorado
9
1 ,805,900
Connecticut
9
767,880
Delaware
5
1,336,725
California
3PPP*#W
Florida
14-
1,637,260
Georgia
17
1,528,399
6
364-, 600
Illinois
52
5,4-85,223
Indiana
18
2,4-14-, 977
Iowa
16
1,370,04-3
Kansas
H
Idaho
959,900
Kentucky
8
397,525
Louisiana
9
731,791
10
956,84.0
8
582,300
Massachusetts
27
6,907,296
Michigan
20
3,850,385
Minnesota
16
1,056,310
Maine
Maryland
TREASURY DEPARTMENT
Washington
RELEASE,, MORNING NEWSPAPERS,
Sunday,’ October 14, 1934,
10-13-34.
Press Service
No. 3 - 34.
The Secretary of the Treasury and the Postmaster General announced today
the results of the emergency construction program for public buildings for the
period June 25, 1934, when the program began, to October 1, 1934.
Of the 302 projects selected under the $65,000,000 emergency appropriation
authorized by Congress June 19, 1934, it was necessary in 207 cases to acquire
new sites.
One hundred and seventy-three of these sites have now been selected.
In addition 57 sites were also selected for public building projects authorized
by previous legislation, making a total of 230 sites.
The amount to be paid
for land in the 230 cases is $3,338,214.
Plans are nearing completion for 301 projects, all of which it is con
templated will be placed under contract or on the market for bids during the
next few months.
Total limits of cost for the projects now in the drawing
stage will amount to $43,341,758.
In addition, sites have been selected,
topographical surveys ordered and preliminary drawing work started on 172
projects, for which the total limits of cost amount to $23,095,145,
Practically
all of the projects in this latter class will be under contract during the
coming wint er.
Since June 25, 1934, there have been placed under contract 78 projects,
total limits of cost of which amount to $8,830,083 and plans and specifications
have been completed for 134 projects involving total limits of cost of
$24,528,900 and construction bids have been received or are being requested at
this time.
The program is the equivalent to the construction of 20,000 homes at a
cost of $6,500 each.
It has been the aim of the two departments to so expedite the program,
wb4.ch entails in all projects for the 812 different communities, as to have
- 2 -
90 per cent pf the work under contract during the coming winter*
The total
amount available for emergency construction is $132,000,000, of which amount
there is now under contract $31,516,-543 involving 137 projects*
Sixty-five million dollars was appropriated by Qongress June 19, 1934, as a
means toward alleviating country-wide unemployment in the building trades and
allied industries.
This appropriation was to augment the $67,000,000 author
ized for uublic building construction under previous legislation.
Within one week after the appropriation of $65,000,000 for additional con
struction, there was announced to the press on June 25, 1934,' the selection of
302 communities scattered throughout all the states of the Union and territories
where construction was to be undertaken under this authorization.
More than
2,500 proposals were submitted in response to advertisement for sites.
Seventy-
three experienced post office inspectors were assigned as site agents to examine
the properties offered in the various communties involved.
Beginning November lr 1934, there will be available to the public eacn
month the status of every project authorized.
The Treasury and Post Office Departments have been guided by the mandate
of Congress to distribute the emergency construction equitably througnout the
country in a manner consistent with the needs of the Government.
All buildings
are being constructed to give ample space to meet the needs of the postal and
other services to be housed therein and to provide the greatest possible utility
and efficiency, without waste or extravagance.
Careful studies were made of the
distribution of work under the existing programs in the selection of projects to
be executed under the new $65,000,000 program toward distributing the funds as
equitably as practicable consistent with government needs.
The distribution by states of the Treasury—Post Office Building Program of
$132,000,000 is as follows:-
- 3 ~
SUMMARY
TREASURY--PUBLIC BUILDING PROGRAMS
State
No* of
Communities
Allocation
Alabama
12
$1,367,410
Arizona
8
1,156,809
Arkansas
6
650,000
57
12,362,763
Colorado
9
lr805,900
Connecticut
9
767,880
Delaware
5
1,336,725
Florida
14
1,637,260
Georgia
17
1,528,399
6
364,600
Illinois
52
5,485,223
Indiana
18
2,414,977
Iowa
16
1,370,043
Kansas
14
959,900
Kentucky
8
397,525
Louisiana
9
731,791
10
956, 840
8
582,300
Massachusetts
27
6,907,296
Michigan
20
3,850,385
Minnesota
16
1,056,310
California
Idaho
Maine
Maryland
4. _
SUMMARY
TBBASURY-PUBLIC BUILDING- PROG-RAMS
State
No. of
Communities
Allocation
8
1,068,000
11
6,171,420
Montana
8
430, 400
Nebraska
7
438, 600
Nevada
2
75,000
New Hampshire
6
370,500
New Jersey
31
4,242,189
New Mexico
7
558, 064
101
32, 798, 223
17
1,906,834
4
96,250
Ohio
38
3,456,158
Oklahoma
13
849,700
9
559,616
Pennsylvania
62
5,843,500
Rhode Island
2
1,072,000
South Carolina
8
1,223,900
South Dakota
2
195,000
Tennessee
15
1,112,151
Texas
37
8,384,040
2
179,612
10
828,985
Mississippi
Missouri
New York
North Carolina
North Dakota
Oregon
Utah
Vermont
- 5 -
SUMMARY
TREASURY-PUBLIC BUILDING PROGRAMS
St at e
No. of
Communities
• Totals
Virginia
15
1,621,657
Washington
12
1,496,300
9
1,045,300
11
904,100
4
270,000
12
4,690,200
Alaska
1
300,000
Hawai i
3
192,000
Puerto Rico
2
282,500
Virgin Islands
1
125,000
All States (Minor Repairs)
1
1,540,000
812
$132,017, 535
West Virginia
Wisconsin
Wyoming
Dis.t. of Columbia
(Allocations under previous
funds)
GRAND TOTALS
1*»•
waste or extravagance.
Careful studies were made of the distribution
of work under the existing programs in the selection of projects to
be executed under the new 165,000,000 program toward distributing
the funds as equitably as practicable consistent with government needs.
The distribution by states of the Treasury-Post Office Building
Program of |132,000,0Q0 is as follows:
-
2-
The program is the equivalent to the construction of 20,000 homes
at a cost of $6,500 each*
It has been the aim of the two departments to so expedite the
program which entails in all projects for the 812 different communities^
as to have 90% of the work under contract during the coming winter*
The total amount available for emergency cons tine ti on is $132,000,000^
of which amount there is now under contract $31,516,54-3 involving 137
projects.
$65,000,000 was appropriated by Congress June 19, 1934-, as a means
toward alleviating country-wide unemployment in the building trades
and allied industries.
This appropriation was to augment the $67,000,000
authorized for public building construction under previous legislation.
Within one week after the appropriation of $65,000,000 for
If.
additional construction, there was announced to the press on June 25,
1934-, the selection of 302 communities scattered throughout all the
states of the Union and territories where construction was to be
undertaken under this authorization.
More than 2,500 proposals were
submitted in response to advertisement for sites.
73 experienced
post office inspectors were assigned as site agents to examine the
properties offered in the various communities involved.
Beginning November 1, 1934-, there will be available to the public
each month the status of every project authorized.
The Treasury and Post Office Departments have been guided by the
mandate of Congress to distribute the emergency construction equitably
throughout the country in a manner consistent with the needs of .the
Government.
All buildings are being constructed to give ample space
to meet the needs of the postal and other services to be housed therein
and to provide the greatest possible utility and efficiency, without
The Secretary of the Treasury and the Postmaster General
announced today the results of the emergency construction program
for public buildings for the period June 25, 1934-, when the program
began, to October 1, ,1934*
Of the 302 projects selected under the $65,000,000 emergency
appropriation authorized by Congress June 19, 1934-, it was necessary
in 207 cases to acquire new sites.
selected.
173 of these sites have now been
In addition 57 sites were also selected for public building
projects authorized by previous legislation, making a total of 230
sites.
The amount to be paid for land in the 230 cases is $3,338,214-.
Plans are nearing completion for 301 projects, all of which it is
contemplated will be placed under contract or on the market for bids
during the next few months.
Tote-1 limits of cost for the projects now
in the drawing stage will amount to $43,34-1,758.
In addition, sites
have been selected, topographical surveys ordered and preliminary drawing
work started on 172 projects, for which the total limits of cost amount
to $23,095,14-5.
Practically all of the projects in this latter class
will be lander contract during the coming winter.
Since June 25, 1934., there have been placed under contract 78
projects, total limits of c o s i ^ o f whicj^amount to $8,830,083 and
plans and specifications have been completed for 134 projects involving
total limits of cost of $24,528,900 and construction bids have been
received or are being requested at this time.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Sunday, October 14, 1934.
10-13-34.
Press Service
No. 3 - 34.
Tlie Secretary of the Treasury and the Postmaster General announced today
the results of the emergency construction program for public buildings for the
period June 25, 1934, when the program began, to October 1, 1934.
Of the 302 projects selected under the $65,000,000 emergency appropriation
authorized by Congress June 19, 1934, it was necessary in 207 cases to acquire
new sites.
One hundred and seventy-three of these sites have now been selected.
In addition 57 sites were also selected for public building projects authorized
by previous legislation, making a total of 230 sites.
The amount to be paid
for land in the 230 cases is $3,338,214.
Plans are nearing completion for 301 projects, all of which it is con
templated will be placed under contract or on the market for bids during the
next few months.
Total limits of cost for the projects now in the drawing
stage will amount to $43,341,758.
In addition, sites have been selected,
topographical surveys ordered and preliminary drawing work started on 172
projects, for which the total limits of cost amount to $23,095,145.
Practically
all of the projects in this latter class will be under contract during the
coming winter.
Since June 25, 1934, there have been placed under contract 78 projects,
total limits of cost of which amount to $8,830,083 and plans and specifications
have been completed for 134 projects involving total limits of cost of
$24,528,900 and construction bids have been received or are being requested at
this time.
The program is the equivalent to the construction of 20,000 homes at a
cost of $6,500 each.
It has been the aim of the two departments to so expedite the program,
which entails in all projects for the 812 different communities,as to have
- 2 -
90 per cent of the work -under contract during the coming winter?*
The total
amount available for emergency construction is $132,000.,000, of which amount
there is now under contract $31,516,543 involving 137 projects*
Sixty-five million dollars was appropriated hy Congress June 19, 1934, as a
means toward alleviating country-wide unemployment in the "building trades and
allied industries.
This appropriation was to augment the $67,000,000 author
ized for public "building construction under previous legislation.
Within one week after the appropriation of $65.,000.,000 for additional con
struction, there was announced to the press on June 25, 1934, the selection of
302 communities scattered throughout all the states of the Union and territories
where construction was to "be undertaken under this authorizat ion.
More tiian
2,500 proposals were submitted in response to advertisement for sites.
Seventy-
three experienced post office inspectors were assigned as site agents to examine
the properties offered in the various communties involved.
Beginning November 1, 1934, there will "be available to the public each
month the status of every project authorized.
The Treasury and Post Office Departments have been guided by the mandate
of Congress to distribute the emergency construction equitably throughout the
country in a manner consistent with the needs of the Government;
All buildings
are being constructed to give ample space to meet the needs of the postal and
other services to be housed therein and to provide the greatest possible utility
and efficiency, without waste or extravagance.
Careful studies were made of the
distribution of work under the existing programs in the selection of projects to
be executed under the new $65,000,000 program toward distributing the funds as
equitably as practicable consistent with government needs.
The distribution by states of the Treasury—Post Office Building Program of
$132,000,000 is as follows;
*-■3 **
SUMMARY
TREASURY--PUBLIC BUILDING PROGRAMS
State
No*- of
Communities
Allocation
Alabama
12
$1,367,410
Arizona
8
1,156,809
Arkansas
6
650,000
57
12,362, 763
Colorado
9
1,805,900
Connecticut
9
767,880
Delaware
5
1,336,725
Florida
14
1,637,260
Georgia
17
1,528,399
6
364,600
Illinois
52
5,485,223
Indiana
18
2,414,977
Iowa
16
1,370,043
Kansas
14
959,900
Kentucky
8
397,525
Louisiana
9
731,791
10
956, 840
8
582,300
Massachusetts
27
6,907,296
Michigan
20
3, 850,385
Minnesota
16
1,056,310
California
Idaho
Maine
Maryland
SUMMARY
TREASURY-PUBLIC BUILDING- PROGRAMS
St at e*
No. of
Communities
Allocation
8
1,068,000
11
6,171,420
Montana
8
430,400
Nebraska
7
438,600
Nevada
2
75,000
New Hampshire
6
370,500
New Jersey
31
4,242,189
New Mexico
7
558,064
101
32,798, 223
17
1,906,834
4
96,250
Ohio
38
3,456,158
Oklahoma
13
849,700
9
559,616
Pennsylvania
62
5,843,500
Rhode Island
2
1,072,000
South Carolina-
8
1,223,900
South Dakota
2
195,000
Tennessee
15
1,112,151
Texas
37
8 ,ii84,040
2
179,612
10
828,985
Mississippi
Missouri
New York
North Carolina
North Dakota
Oregon
Utah
Vermont
SUMMARY
TREASURY-PURLIC BUILDING PROGRAMS
State
No. of
Communities
; Totals
Virginia
15
1,621,657
Washington
12
1,496,300
9
1,045,300
11
904,100
4
270,000
12
4,690,200
Alaska
1
300,000
Hawai i
3
192,000
Puerto Rico
2
282,500
Virgin Islands
1
125,000
All States (Minor Repairs)
1
1,540,000
812
$132,017,535
West Virginia
Wisconsin
Wyoming
Dist. of Columbia
(Allocations under previous
funds)
GRAND TOTALS
TREASURY DEPARTMENT
Washington
October 15, 1934
MEMORANDUM FOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1935)
Yv'eek ended October 12, 1934:
San Francisco....................... .••
Denver...........•......................
1 otsl for week ended Oct. 1 2 .... .
Total receipts through Oct. 12, 1934.....
604,868.44 fine ounces
4.607.00 "
”
14,831,000.00 fine ounces
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended October 12, 1934:
Philadelphia............................
New York.................................
San Francisco ........................
Denver ..............
New Orleans.........
Seattle
Total for week ended Oct. 12
Total receipts through Oct. 12, 1934..... .
12yl96.00 fine ounces
1,56^,895.00
1,254,827.00
902.00
432.00
2.596.00 1
2,833,948.00 '
96,278,341.00 fine ounces
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
j?eek ended Octmber 12, 1934..........
Philadelphia ........... ..."........
New York ...................
^an Francisco
1Denver............. ..................
New Orleans........... ....... .
Seattle......... ......................
Total for week ended Oct. 12, 1934...
Imports
23,900.00
65,430.86
48,782.00
4,596.29
0.42,709.15
Domestic
Secondary
15 (
$ 238,092.35 4
541,800.00
1,718,58
129,798.68
835,92
45,759.00
49
39,092.26
256.42
24,668.10
$1,019,210.39 $2,811,577
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 193b)
Received by Federal Reserve Banks:
Week ended October 10, 1934 ....
Received previously ............
Total to October 10, 1934 ......
Received by Treasurer’s Office:
Week ended October 10, 1934 ....
Received previously
Total to October 10, 1934
NOTE:
Gold Coin
36,285.78
29 2149 2962.02
$29,186,247.80
$
Gold Certificates
839,990.00
72,080,670.00
$72,920,660.00
$
iC§
fd tCy
#00
•00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
9,800.00
1.768.500.00
$ 1,778,300.00
TREASURY DEPARTMENT
Washington
October 15, 1934
MEMORANDUM EOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS
(Under Executive Order of December 21, 1933)
Week ended October 12, 1934:
San Erancisco................... ,..........
D0HV6I* • • » » • • • • • • ♦ • • • • • • • • • • • • • * • • • * • •• • • • •
Total for week ended Oct. 12 .......... .
Total receipts through Oct. 12, 1934 .......
604.868.44 fine ounces
4.607.00 "
»
609.475.44 »
'*»
14,831,000.00 fine ounces
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended October 12, 1934:
Philadelphia ....... ......... .
New York ................... .
San Francisco .......... .
Denver ............. .
New O r l e a n s ........ ...... .
Seattle ...„ ......... .
Total for week ended Oct. 12
Total receipts through Oct. 12, 1934
12,296.00 fine ounces
tt
1.562.895.00 II
n
(i
1.254.827.00
t
i
11
902.00
11
432.00 11
11
1*
2,596.00
11
11
2.833.948.00
11
ti
96,278,341,00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended October 12, 1934............
$
Philadelphia...... ...
23,900.00
New York
65,430.86
San Francisco , .......
48*782.00
Denver ...............
4,596.29
New Orleans ...........
S0attXo***##
Total for week ended Oct. 12, 1934... $ 142,709.15
Secondary
$ .238,092.35
541,800.00
129, 798.68
45,759.00
39,092.26
24,668.10
$1,019,210.39
New
Domestic
$
150.95
1,718,580,52
835,920.00
497.41
256,428.15
$2,811,577.03
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER? S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks;
Gold Coin
Week ended October 10, 1934 ,..,....$
36,285.78
Received previously ................ 29,149,962.02
Total to October 10, 1934 ..........$29,186,247.80
Received by treasurer's Office:
Week ended October 10, 1934
Received previously ....... ........ .
Total to October 10, 1934 ......... $
NOTE:
------252,802.00
252,802.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572,69 previously reported.
Gold Certificates
$
839,990.00
72,080,670,00
$72,920,660.00
$
9,800.00
1,768,500.00
$ 1,778,300.00
TREASURY DEPARTMENT
Washington
EOR IM E D I A T E RELEASE,
October 15, 1934,
Press Service
Uo, 3
35
ACTIVITIES OF INVESTIGATORS,
ALCOHOL TAX UNIT, EOR WEEK ENDING- OCTOBER 6, 1934,
(Corrected statement based on complete weekly reports
of investigators)
Dist.
No.
1
States
Stills
Seized
Conn.
Maine
Mass.
N. H,
R. I.
Vt,
TOTAL
Capacity
Cals, of
Spirits
Seized
Cals, of
Mash
Seized
Autos &
Trucks
Seized
4,100
7,050
l
Value of
Property
Seized
Arrests
2
400
55
17
33
3
34
5
1,628
142
11,700
2
$
413
11
25
3,817
1,229
100,860
2
$ 10,049
33
5
$
2,998
13
2
1
1,128
100
$
550
1
73
50
40
250
2
3
2
3
1
2
New York
3
Penn,
5
875
951
6,593
4
Del.
N, J.
4
1,950
680
32,050
$
1,150
1
TOTAL
4
1,950
680
32,050
$
1,150
1
D. C.
Md,
N,Car.
Vaf
W. Va,
1
3
9
7
4
100
175
1,145
690
275
76
2,242
128
424
102
300
558
10,220
6,500
700
1
3
$
125
16,625
1,614
712
13
12
7
21
20
TOTAL
24
2,385
2,972
18,278
10
$ 19,076
73
A1 a.
El a.
Ca,
S.Car.
5
5
21
8
1,950
310
2,960
"880 .
46
13
824
185
2, 200
715
41,035
7, 710
1
$
410
352
5,483
773
9
3
20
17
TOTAL
*39
6,100
1,068
51,660
7
$
7,018
49
Ky,
Tenn.
' 20
14
1,965
3,145
169
209
11,045
14,550
$
2,566
1,420
17
11
TOTAL
34
5,110
378
25,595
$
3,986
28
5
6
7
2
4 _
5
1
-
iDist,
No*
10
11
14
15
Capacity
Autos &
Trucks
Seized
Value of
Property
Seized
Arrests
Mich.
Ohio
3
6
130
770
48
442
670
19,700
$
251
825
5
5
TOTAL
.9
900
490
20,370
$
1,076
10
5
8
742
282
62
39,915
1,965
15,200
2
1
$
A
910
700
1,380
5,500
75
4,076
13
14
5
TOTAL
17
2,990
1,086
57,080
3
$
9,651
32
La.
Miss.
T exas
1
14
13
50
1,910
912
113
136
364
450
10,600
10,120
3
4
5
$
312
3,563
1,821
7
18
35
TOTAL
28
2,872
613
21,170
12
$
5,696
60
4
3
4
120
225
582
133
3,400
1,340
$
1,500
3
3
1
285
1,232
2,057
1,080
5
X4:
17
27
Ark.
Kansas
Mo.
Okla.
12
440
201
400
622
TOTAL
23
1,663
1,060
6,240
7
3
2
60
1,035
48
30
801
20
120
29,549
2
2
1
500
139
22,000
1
6
1,595
1,018
51,689
5
2
60
13
7
Iowa
Minn.
ITeh.
IT.Dale.
3. Dak.
TOTAL
13
Stills
Seized
Gals, of Gals, of
Spirits Mash
Seized
Seized
*
to
12
St at e s
-
63
285
455
10
10
3,363
1
7
$
4,103
32
$
200
600
85
1
20
2
1
687
11
1,125
16
11
1
$
1,136
17
$
175
8
2
2
2,071
6
2,254
10
$ 73,947
443
$
Aris.
Colo.
IT.Mex.
Utah
Wyom.
2
TOTAL
2
60
21
220
2
$ .
Calif.
L
5
335
10
250
107
13
5
2,150
2
$
l
300
2
TOTAL
7
595
125
2,450
Idaho
Mont.
Ore.
fash.
5
157
3
3
460
3
1,100
382
6,100
2
TOTAL
8
1,257
388
6,560
2
236
33,797
12,221
412, 515
59
$
m
3
TREASURY DEPARTMENT
WASHINGTON
i
FOR RII^ASE, MORNING NEWSPAPERS,
Tuesday, October 16* 1934*
10/16/34
Press Service
3
-
3
4
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $76,000,000, or thereabouts,
of 182-day Treasury bills, dated October 17, 1934, and
maturing April 17, 1936, which were offered on October 12,
were opened at the Federal reserve banks on October 16,
1934*
The total amount applied for was $237,719,000, of
which $76,248,000 was accepted* The accepted bids ranged
in price from 99*909, equivalent to a rate of about 0*18
percent per annum, to 99*889, equivalent to a rate of about
0*22 percent per annum, on a bank discount basis. Only part
of the amount bid for at the latter price was accepted* The
average price of Treasury bills to be issued is 99*894 and
the average rate is about 0*21 percent per annum on a bank
discount basis*
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, October 16, 1934.
10-15-34.
Press Service
No. 3 - 3 6
Secretary of the Treasury Morgenthaji announced last evening that
the tenders for $75,000,000, or thereabouts, of 182-day Treasury bills,
dated October 17, 1934, and maturing April 17, 1935, which were offered
on October 12, were opened at the Federal reserve banks on October 15,
1934.
The total amount applied for was $237,719,000, of which $75,248,000
was accepted.
The accepted bids ranged in price from 99.909, equivalent
to a rate of about 0.18 per cent per annum, to 99.889, equivalent to a
rate of about 0.22 per cent per annum, on a bank discount basis*
part of the amount bid for at the latter price was accepted.
Only
The
average price of Treasury bills to be issued is 99,894 and the average
rate is about 0.21 per cent per annum on a bank discount basis.
p
Tlie amendment advancing the effective date to January l,next*
relates solely to Article 3 of the regulations, governing ttuse of bottles
for packaging distilled spirits111*
No change was made in any other provisions
of the regulations as originally drafted*and approved by the Secretary of the
Treasury J^ly 13,1934.
The regulations governing bottle manufacturers became effective
August 1* and remain unchanged*
to obtain Government permits*
All liquor bottle manufacturers were required
They are forbidden to deliver liquor bottles
to distillers, rectifiers, importers or wholesale dealers, unless buyers in
those groups have been certified as entitled to receive them. No containers
may be delivered unless there shall be blown legibly in them the identifying
numerals and symbols*in comformity to the regulations. Purchase or sale of
liquor bottles, except in accordance with the regulations, is prohibited,under
severe penalties provided by the law*
/U .
j
n,
?p^
The Secretary of the Treasury in a decision today amending
regulations governing the traffic in containers of distilled spiritsf
advanced from November 1, 1934 to January 1,1935, the effective date
i. - u *
of the provision forbiding
use of bottles for packaging liquors for
retail sale, unless certain required indicia
Beginning January 1, 1935,
blown in the bottles*
distilled spirits cannot legally
be bottled unless the bottles have blown-in inscriptions,legible on
permit number, the year of manufacture indicated by the last numeral,
and a symbol representing the name of the distiller,rectifier,importer,
or wholesale dealer procuring the bottles*
There must also appear on the
shoulder of the bottles a blown-in inscription,warning that the reuse of
such containers is unlawful*
The Secretary in advancing the effective date of the regulations,
relating to the use of containers, approved the recommendation of Commis
sioner Guy T* Helvering, of the Bureau of Internal Revenue, who considered
as justified the complaints he received from bottle manufacturers,distillers
and rectifiers. They represented that their inventories showed they have
on hand stocks of unmarked bottles and would be forced to cancel outstanding
contracts for bottle supplies made prior to the promulgation of the
regulations*
account*
They urged that their losses would be considerable on that
They also urged that they be accorded the same consideration
granted to the inporters, who* originally hadL until January 1,1935* the
privilege of importing spirits in unmarked containers.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Wednesday, October 17, 1934,
Press Service
No, 3 - 3 7
10-16-34,
The Secretary of the Treasury in a decision today amending regulations
governing the traffic in containers of distilled spirits, advanced from
November 1, 1934, to January 1, 1935, the effective date of the provision for
bidding the use of bottles for packaging liquors for retail sale, unless certain
required indicia are blown in the bottles.
Beginning January 1, 1935, distilled spirits cannot Legally be bottled un
less the bottles have blown-in inscriptions, legible on the bottom or body of
the containers, showing plainly the manufacturer! s permit number, the year of
manufacture indicated by the last numeral, and a symbol representing the name
of the distiller, rectifier, importer, or wholesale dealer procuring the
bottles.
There must also appear on the shoulder of the bottles a blown-in
inscription, warning that the reuse of such containers is unlawful.
The Secretary in advancing the effective date of the regulations, relating
to the use of containers, approved the recommendation of Commissioner Guy T,
Helvering, of the Bureau of Internal Revenue, who considered as justified the
complaints he received from bottle manufacturers, distillers and rectifiers.
They represented that their inventories showed they have on hand stocks of
unmarked bottles and would be forced to cancel outstanding contracts for bottle
supplies made prior to the promulgation of the regulations.
their losses would be considerable on that account.
They urged that
They also urged that
they be accorded the same consideration granted to the importers, who originally
had until January 1, 1935, the privilege of importing spirits in unmarked con
tainers.
The amendment advancing the effective date to January 1, next, ..relates
solely to Article 3 of the regulations, governing "use of bottles for pack
aging distilled spirits".'
No change was made in any other provisions of
the regulations as originally drafted, and approved by the Secretary of the
Treasury July 13, 1934.
The regulations governing bottle manufacturers became effective August
1, and remain unchanged.
obtain Government permits.
All liquor bottle manufacturers were required to
They are forbidden to deliver liquor bottles
to distillers, rectifiers, importers or wholesale dealers, unless buyers in
those groups have been certified as entitled to receive them.
No containers
may be delivered unless there shall be blown legibly in them the identifying
numerals and symbols, in conformity to the regulations.
Purchase or sale of
liquor bottles, except in accordance with the regulations, is prohibited,
under severe penalties provided by the law.
TREASURY DEPARTMENT
Washington
Press Service
Ho. 5 ~ 5 #
Release
Secretary of the Treasury Morgenthau announced today that
seigniorage resulting from the issuance of silver certificates against
silver bullion acquired under the terms of the Silver Purchase Act of 1954,
whether by purchase in the market or by nationalization, will be covered
into the Treasury as a special receipt in the same manner as the increment
resulting from reduction in the weight of the gold dollar.
Seigniorage
of this character will appear on the Daily Treasury Statement, not under
ordinary receipts of General and Special Funds, but as a separate item
under the same classification as trust funds and increment on gold.
The General
Fund Balance on the Daily Statement will be segregated
to show the amount of seigniorage from this source, and also the amount
of the gold increment in the Fund.
Beginning with the Daily Statement as of the close of business
/ b
1
the General Fund balance will be shorn as follows:
Balance of increment resulting from reduction
in weight of the gold dollar ............ .
Seigniorage ................... ........ .
..•••«••
Working balance ........... ............... .
...... .
Total net balance ................ ................ $....♦•♦
All seigniorage an silver other than that received through the
issuance of silver certificates against silver acquired under the pro
visions of the Silver Purchase Act of 1954 will be covered into the
Treasury as an ordinary receipt and will so appear in the Daily Treasury
Statement.
TREASURY DEPARTMENT
Washington
Press Service
Ho, B - 38
FOR IMMEDIATE RELEASE,
Thursday, October 18, 1934.
Secretary of the Treasury Morgenthau announced today that seigniorage
resulting from the issuance of silver certificates against silver bullion
acquired under the terms of the Silver Purchase Act ot 1934, whether ey
purchase in the market or by nationalization, rill bo covered into the
Treasury as a special receipt in the same manner as tne increment recalling
from reduction in the weight of the gold dollar.
Seigniorage oi this
character will appear on the Daily Treasury Statement, not under ordinary
receipts of General and Special Funds, but as a separate item under the same
classification as trust funds and increment on gold.
The General Fund Balance on the Daily Statement will be segregated
to show the amount of seigniorage from this source, and also the amount of
the gold increment in the Fund.
Beginning with the Daily Statement as of the close of business
October 16, the General Fund balance will be shown as follows:
Balance of increment resulting from reduction
in weight of the gold dollar...••*.•••••••
•....
Seigniorage. ••••••••.... ............. .
Working b
a
Total net b
l
a
a
n
l
c
a
••••.••
e
n
.
c
*.... *
e
.
$..*•••••
All seigniorage on silver other than that received through the
issuance of silver certificates against silver acquired Una.-- the provisions
of the Silver Purchase Act of 1934 fill bo covered into too Treasury as an
ordinary roceint and will so appear in the Daily Treasury Statement.
October
1934.
Miss Ann Gibbons, daughter of IMNHHHBBfr Stephen B. Gibbons,
Assistant Secretary of the Treasury, has accepted an invitation to
act as sponsor of the Coast Guard cutter MOHAWK which is scheduled
to be launched at the plant of the Pusey & Jones Company, Wilmington
Delaware, on October 23rd.
The MOHAWK is the last of three Coast Guard cutters built
at the plant of the Pusey & Jones Company to be launched.
165-feet in length, displacement 1000 tons,
draft 13 feet.
She is
36-foot beam, and
Her turbine-geared engines develop about 1500
horsepov/er, and she will have a speed of about 15 knots.
The hull
of the MOHAWK is of unusually heavy plating, and her stem sheered so
as to permit her to plow through the ice, thus permitting her to
open up channels to ice-locked harbors and shipping during severe
winter seasons
TREASURY DEPARTMENT
Washington
October 18, 1934*
MEMORANDUM FOR THE PRESS-;
Miss Ann Gibbons, daughter of Stephen B. Gibbons, Assistant
Secretary of the Treasury., has accepted an invitation to act as
sponsor of the Coast Guard cutter MOHAWK which is scheduled to he
launched at the plant of the Pusey & Jones Company, Wilmington,
Delaware, on October 23rd*
The MOHAWK', is the last of three Coast Guard cutters built
at the plant of the Pusey & Jones Company to be launched.
165-feet in length, displacement 1000 tons,
and draft 13 feet.
She is
Tnirty— six foot beam,
Her turbino-geared engines develop about 1500
horsepower, and she will have a speed of about 15 knots.
The hull
of the MOHAWK is of unusually heavy plating, and her stem sheered s
as to permit her to plow through the ice, thus permitting her to
open up channels to ice—locked harbors and shipping during severe
winter seasons
October 17, 1934
MEMORANDUM
TO:
Admiral Peoples
FROM: Mr. Gaston
I shall be glad to have your approval or criticism
of this.
Attachment
HEG/mah
TREASURY DEPARTMENT
Washington
Press Service
No. 5
The creation of a Paintings and Sculpture Section in the
Procurement Division of the Treasury Department was announced
today (October 17) fey the Secretary of the Treasury.
of people throughout the country interested in art will fee sought,
and the artists in each coinminit^will fee encouraged to submit
their works for acceptance.
It was pointed out fey the Secretary that there is a very
considerable
amount of art work purchased b y the
Federal Government in connection with its erection of^public
buildings, and that frequently the allotment for mural decoration
of a building is a substantial sum.
On some projects the Paintings and Sculpture Section will
arrange for competitions, artists feeing^ asked to sutfiait designs
for consideration by judges of the contests
An effort will fee made
to have the art work done by local talent where possible.
The
quality of the work will fee the test in all cases.
Mr. Edward Bruce, who directed the Public Works of
Art
Project lastCjftnter and Co r i n g , will act as Consulting Expert to
the Paintings and Sculpture Section.
*
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS
Friday, October 19, 1934,
10-18-34.
Press Service
No*. 3 - 3 9
The creation of a Paintings and Sculpture Section in the Procurement
Division of the Treasury Department was announced today (October 18) by
the Secretary of the Treasury.
The work of the new section will be directed toward the selection of
art objects of high quality for the decoration of public buildings in
those cases
where
funds for this purpose are available.
The cooperation
of people throughout the country interested in art will be sought, and the
artists in the communities selected will be encouraged to submit their works
for acceptance.
It was pointed out by the Secretary that there is a very considerable
amount of art work purchased by the Federal Government in connection with its
erection of certain public buildings, and that frequently the allotment for
mural decoration of a building is a substantial sum.
On some projects the Paintings and Sculpture Section will arrange for
competitions, artists being
judges of the contests*
asked to submit designs for consideration by
An effort will be made to have the art work done
by local talent where possible.
The quality of the work will be the test
in all cases,
Mr. Edward Bruce, who directed the Public Works of Art Project last
Winter and spring, will act as Consulting Expert, to the Paintings and
Sculpture Section.
>S.'-
*
LIQ.UCR SJtT^URES
OFFICERS
DlRINp^EPTEMBER, 1934.
CANADIAN BORDER:
Maine & New Hampshire
Vermont
St • Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
Liquor
Gallons
* Seizures Liquor Beer Alcohol
7
3
4
1
-
2
3
1
1
1
1 -
80
Autos
No. Valuft
4 $410
mm
5
w
1
—
3
3
3
37
/£&i05'
1
1
1
1
.2
20
&u"7 125/30 -
2
80
77
4
i
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
Georgia
Boats
No. Valu*
c/Gt^-^
102
4
387
6
3 $ 260
3 $ 915
^rL %Vtt31tr
4 $ 63
1
—
-
4
10
•
1 $2,500
-
.-
GULF COAST:
Florida
Mobile
New Orleans
Sabi ne
Galveston
8
6
-1
-
8
6
_
1
/
\
. )
/
. \
1
1
*
PACIFIC COAST:
San Francisco
Los Angeles
3
7
1
18
OTHER DISTRICTS:
3
1
Total..........
JRfcPAREP^8V
VISION
OF
S T ^ n g f lC S
S U R E A j/Q F
TREASURY
Af
CUSTOM
^RAKTMENT
\
• M
Rico
r
m
—
9*
17
1
505* ^
750
T W _
$4 t 53&-
TREASURY DEPARTMENT
Washington
. ^QH.«BH8eta$E RELEASE, k*V * ~ * ^
&**
hntnhAT* =fe£_ 1934,
1 9 ?iA.
r October
Press Service
I
H®* j „ i / o
. Hi wOi »wmiwamwwww ww#m»H*
(t «■ t
J
Seizures of liquor for the violation of CustomsJLaws during
September numbered 455, it was announced by the Customs Bureau today*
The number of liquor seizures in September compares with 440 during
the previous month.
The number of gallops of liquor seized was 769
"7%UP
f'j*'
as against 3 >966 in August. -flip" gallons of alcohol
taken in
September^as against 967 gallons^in^ugust •
No unusually large
seizures were reported during the month*
Seizures of beer declined to 17 gallons during September as
against 42 gallons in August and 581 gallons in July.
Of the vehicles seized for transportation of liquor during the
month of September, there were 21 automobiles with an aggregate
value of $4>543*
Most of the seizures during the month were made either along the
Mexican border or on the Atlantic Coast.
seizures ws®@r~made during the .past.month in the four
Customs districts bordering on MexicoAas compared with 230 in August*
•i »;
/d
■
The following table lists by districts and. States seizures of
gj
:;4
' -V;—
liquor for violation of Customs paws by all agencies of the Federal
Government during September*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, October 20, 1934.
10-19-34.
Press Service
No. 3 - 4 0
Seizures of liquor for the violation of Customs laws during September
numbered 455, it was announced by the Customs Bureau today.
The number of
liquor seizures in September compares with 440 during the previous month.
The number of gallons of liquor seized was 769 as against 3,966 in August,
The number of gallons of alcohol taken in September was 750 ns hgadnst 967
gallons seized in August.
No unusually large seizures were reported
during the month.
Seizures of beer declined to 17 gallons during September as against
42 gallons in August and 581 gallons in July.
Of the vehicles seized for transportation of liquor during the month
of September, there were 21 automobiles with an aggregate value of $4,543.
Most of the seizures during the month were made either along the
Mexican border or on the Atlantic Coast.
Seizures made during the past month in the four Customs districts
bordering on Mexico numbered 256 as compared with 230 in August.
The following table lists by districts and states seizures of liquor
for violation of Customs laws by all agencies of the Federal Government dur
ing September
~ 2 -
SEIZURES OF LIQUOR FOR VIOLATION OF CUSTOMS LAWS
DURING SEPTEMBER, 1934,
Liquor
Seizures
CANADIAN BORDER:
Maine & New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
______ Gallons______
Liquor Beer Alcohol
Autos
No. Value
80
-
4
-
1
2
—
—
20
57
130
124
1
2
80
77
4
3
3
6
4
$ 260
$ 915
$ 395
$ 63
102
4
387
6
1
-
-
-
4
10
8
6
*—
7
3
4
1
2
1
1
1
5
1
3
3
3
1
-1
1
37
106
54
89
3
1
--
~
$ 410
—
-
-
ATLANTIC COAST:
New York
Mas sachus et t s
Rhode Island
Connecticut
Philadelphia
Maryl and
Georgia
1
GULF COAST:
Florida
Mot ile
New Orleans
Sahine
Galveston
8
6
—
1
-
1
PACIFIC COAST:
San Francisco
Los Angeles
3
7
1
18
-
OTHER DISTRICTS:
3
1
Total . , . . . . . , .. 455
769
* One seizure at Fuerto Rico
9*
17
$2,500
•—
—
-
—
-
-
-
505*
-
-
•750
21
-
$4,543
2~
j'
••
-
than $30,000 in value are being considered, but it may later be ap
plied to banks with assets of greater value.
li
jrs
jr
For release
Snari^p», October -3 1 -19547
t r\
■y»
3'*^/
lo - x o - 3 ^
TREASURY DEPARTMENT
J. F. T. O ’Connor, Controller of the Currency, announced
today the consummation of the first sale of the remaining assets of
a receivership hank under the plan recently agreed upon between
Chairman Jesse H. Jones of the Reconstruction Finance Corporation
and the Comptroller's office.
The hank was the First National Bank
of Milton, North Dakota, and the receiver was C. J. Amundsen.
The Reconstruction Finance Corporation made a loan of
$15,918.49, which it considers is the full equity value of the remain
ing assets, less a reasonable allowance for costs of collections.
The
receiver then sold the assets, subject to this loan, to three trustees,
Mr. E. Gemmill, Mr. R. J. Rose and Mr. Mark Waind, all of Milton, North
Dakota, who will act for the benefit of the depositors.
The sale was
consummated under an order of the United States District Court at
Fargo, North Dakota.
When the Reconstruction Finance Corporation has been repaid,
the assets will then be turned over to the three trustees for the benefit
of the depositors.
The amount loaned to the receiver by the Reconstruction
Finance Corporation will be immediately distributed to the depositors
of the bank, and the trust closed.
This plan for the disposition of assets of banks in receivership
was discussed between the Comptroller and the Secretary of the Treasury
last July and a number of conferences were held with Chairman Jones of
the Reconstruction Finance Corporation, who gam
it.
At present only receivership hanks with remaining assets of less
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, October 22, 1934.
10-20-34,
'
2
~ ~
J*
Press Service
STS I IT
"
%*' 0 !Connor, Comptroller of the Currency, announced today the
consummation of the first sale of the remaining assets of a receivership hank
under tne plan recently agreed upon "between Chairman Jesse H. Jones of the Re
construction Finance Corporation and the Comptrollers office.
The bank was
the first National Bank of Milton, North Dakota, and the receiver was C. J*
Amunds en.
The Reconstruction Finance Corporation made a loan of $15,918.49, which
it considers is the full equity value of the remaining assets., less a reason
able allowance for costs of collections.
The receiver then sold the assets,
subject to this loan, to three trustees, Mr. E. Gemmill, Mr. R. J. Rose and
Mr. Mark Waind, all of Milton, North Dakota, who will act for the benefit of
the. depositors.
The sale was consummated under an order of the United States
District Court at Fargo, North Dakota.
When the Reconstruction Finance Corporation has been repaid, the assets
will then be turned over to the three trustees for the benefit of the de
positors.
The amount loaned to the receiver by the Reconstruction Finance
Corporation will be immediately distributed to the depositors of the bank,
and the trust closed.
This plan for the disposition of assets of banks in receivership was
discussed between the Comptroller and the Secretary of the Treasury last July
and a number of conferences were held with Chairman Jones of the Reconstruc
tion Finance Corporation, who approved it.
At present only receivership
banks with remaining assets of less than $30,000 in value are being con
sidered, but it may later be applied to banks with assets of greater value.
TREASURY DEPARTMENT
Washington
October 22, 1954
MEMORANDUM FOR THE PRESS.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1954)
Week ended October 19, 1954s
705,425.62 fine ounces
San Francisco .................. .............
6,780.00
"
"
Denver......... ........ .................... ..
it
it
...........
712,205.62
Total for week ended Oct. 19..............
Total receipts through October 19, 1954........15,544,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1954)
Week ended October 19, 1954*
Philadelphia.
Now Yn-rlr____
San Francisco ...............
4,597.00 fine ■ounces
1!
tt
941,152.00
.
11
i
t
8l',275.00
It
n
.
16,403.00
Dornr#=r*. . . . . . .
II
t
i
.
666.00
New Orleans..
«
»
,
1
1
.
234.00
Sea ttle......
t
i
t
l
Total for week ended Oct. 19............ . 1,044,127.00
t!
II
'^otal receipts through October 19, 1934...... .97,322,468.00
•
.
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended October 19, 1954:
. Philadelphia.............
New York ................
San F r a n c i s c o ..... .
Denver............... .
New Orleans..............
Seattle..................
Total for week ended Oct.19
Imports_____
845,600.00
11,409.63
24,230.00
866.48
$880,106.11
Secondary
$286,711.00
959,900.00
164,596.99
56,689.00
50,898.57
17.765.81
$1,"536,559.57
$
New
Domestic
1,225.26
878,944.77
896,109.00
1,778.61
540.675.87
$2,318,731.51
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER?S OFFICE:
(Under Secretary's Order of December 28, 1935)'
Received by Federal Reserve Banks1
Week ended Oct. 1 7 ......... .
Received previously..............
Total to 6ct. 17, 1934..... .....
Received by Treasurer’s Office«
Week ended Oct. 1 7 ............
Received previously. •• • •
Total to Oct. 17, 1934.
$
Gold Coin
59,479.79
Gold Certificates
TOl,950.00
$29,225,727.59
$73,624,590.00
|
$
■_____
252,802.00
252,802.00
8,600.00
1.778.500.00
| 1,786,900.00
NOTE:Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
treasury
department
Washington
MEMORANDUM EOR THE PRESS.
October 22, 1934.
RECEIPTS OE SILVER BY THE MINTS:
(Under Executive Order of December 21, 1934)
Week ended October 19, 1934;
San Francisco**.,.,. . , . . . . . . . . . . . . .
705,425.62 fine ounces
ii
ti
Denver*.•**.*«,,............,.:,». *, *.■■. * » • . *
6,780#■00
it
ti
Total for week ended Oct, 19....,... •*,*.*
712,205.62
it
it
Total receipts through October 19, 1934*v *#■•••*• 15,544,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended October 19, 1934:
Philadelphia*.....;......... .......
4,397.00 fine ounces
ti
ti
New York
.,..............
941,152.00
ii
ii
San Francisco,,...,.............
81,275.00
ti
ti
Denver...*•••«•••...........................
16,403,00
it
tt
New Orleans*........ ..............
666.00
tt
ti
Seattle....*....,.........
234.00
it
ii
Total for week ended Oct. 19......••••..•• 1,044,127.00
tt
ii
Total receipts through October 19, 1934....... 97,322,468.00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended October 19, 1934:
Philadelphia
New Y o r k .... .
San Francisco
Denver.•*••,.••.. ........
New Orleans*••*..«•••••••
Seattle. ....... ........ ..
Total for week* ended Oct.19
843,600.00
11,409.63
24,230.00
866.48
$880,106.11
Secondary
$ 286,711.00
959,900.00
164,596.99
56,689.00
50,898.57
. 17,763.81
$1,536,559.37
New
Domestic
$
i s225*25
.
878,944.77
896,109.00
1,778.61
540?673*87
$2,318,731.51
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks;
Week ended Oct. 17...... .
Received previously.
Total to Oct. 17, 1934...........
Received by Treasurer's Office:
Week ended Oct. 17.•••••••.••••
Received previously*
Total to Oct. 17, 1934*.
NOTE:
Gold Coin
$
39,479.79
29,186,247.80
$29,225,727.59
Gold Certificates
703,930.00
72,920,660.00
$73,624,590.00
$
$
$
252,802.00
252,802.00
8,600.00
1,778,300.00
$ 1,786,900.00
Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
October 22, 1934.
Press Service
3 „ 43
ACTIVITIES OE INVESTIGATORS,
ALCOHOL TAX UNIT, EOR WEEK ENDING- OCTOBER 13, 1934.
(Corrected statement "based on complete weekly reports
of investigators)
Dist.
Nof
.
i
S'bcR/'b0s
Stills
Seized
Capacity
Gals, of
Spirits
Seized
Gals.of
Mash
Seized
40
2,337
2,551
9,000
Autos &
Trucks
Seized
Value of
Property
Seized
Arrest s
Conn.
Maine
Mass.
N* H.
R. I.
Vt.
2
TOTAL
2
800
5,517
9,000
2
$17,761
7
2
New York
8
1,110
912
11,300
4
$ 7,114
14
3
Penn.
11
3,834
1,506
66,980
6
$26,509
18
4
Del.
N. J.
4,205
10
2,059
1
6
86,975
225
1,300
2
TOTAL
6
4,205
2,069
86,975
1
$ 1,525
2
D, ’C.
Md.
N.Car.
Va.
W.Va.
2
6
9
11
4
800
562
645
1,715
180
201
292
115
225
71
6,880
4,425
8,425
7,300
1,650
2
3
1
$
TOTAL
32
3,902
904
Ala.
El a.
Ga.
S.Car.
19
15
11
4
5,570
3,425
1,590
350
TOTAL
49
Ky.
Tenn.
13
17
5
6
7
800
1
1
$ 1,000
14,136
25
584
1
4
2
2,600
2
815
675
400
1,395
765
2
31
8
21
22
28,680
8
$ 4,050
84
204
811
464
365
6,310
23,750
22,200
3,450
2
2
2
$ 2,248
6,137
2,303
872
30
8
5
17
10,93(5
1,844
55,710
6
$11,560
60
535
4*188
101
201
4,430
35,760
$
1
17
17
620
1,810
- 2 ~
Dist.
Ho*
8
9
10
11
States
Stills
Seized
13
14
15
Gals.of
Spirits
Seized
Gals.of
Mash
Seized
Autos &
Trucks
Seized
Value of
Property
Seized
Arrest s
Mich.
Ohio
8
11
695
2,345
168
1,672
7,925
26,500
2
2
$
1,393
2,168
6
28
TOTAL
19
3,040
1,840
34,425
4
$
3,561
34
111..
Ind.
Wise.
4
1
6
400
75
2,590
3,587
138
166
5,387
450
49,160
2
2
$ 45,910
550
25,376
10
15
5
TOTAL
11
3,065
3,891
54,997
4
$ 71,836
30
La.
Miss.
Texas
5
10
20
300
595
1,133
75
180
546
2,830
3,950
5,057
3
7
8
$
602
870
3,166
26
27
41
TOTAL
35
2,028
801
11,237
18
$
4,638
94
Ark.
Kansas
Mo.
Okla.
3
2
5
4
150
106
313
490
13
354
59
124
500
100
2,200
3,300
$
6
85
232
535
1,492
7
3
12
16
14
1,059
550
6,100
6
$
2,344
38
1
$
TOTAL
12
Capacity
Iowa
Minn.
Neb.
N.Dak.
S*Dak»
4
1
160
200
30
45
415
1,500
15,000
2
25
26.8
1,183
4
160
99
1,025
1
40
7
18
7
3
5
TOTAL
9
520
589
17,525
4
$
1, 521
40
Ariz#
Colo.
N. Mex.
Utah
Wyo.
7
1
3
430
100
125
198
12
3,500
100
250
4
1
$
710
75
191
17
6
3
2
TOTAL.
11
645
211
3,850
5
$
976
28
Calif.
Hawai i
Nevada
1
1
50
75
333
114
25
416
2
$
1,200
4
1
TOTAL
2
125
447
441
2
$
1,200
5
330
800
105
266
2
10
120
1
2
1
$
3
74
46
21
3
120
141
330
4
$
1,171
17
242
40,121
21,524
428,340
76
$158,196
505
1
Idaho
Mont.
Ore.
Wash.
TOTAL
gra nd t o t a l
|
4
l
-
2-
Notices went out to State health officials on October 19,1934
announcing that the allocation of funds could be made as soon as
desired by counties needing assistance.
There ate at the present time 550 full-time county units.
In 1932 the number was considerably higher^reaching 616 units.
The first to be organized was in Yakima County, Washington in
1911.
The State health officials at that time asked the Public
Health Service to aid in setting up an agency to combat typhoid
continued active since that time
It is estimated that less than 25 per cent of the rural
population of the country has the benefit of 1— 1^ ----*•~~
the present time.
RELEASE,'AFTEHROatr P
A
P
----Press Service
Tuesday, October 23, 1934*
'
No*
Regulations governing the participation of the Public Health
Service in the establishment or maintenance of permanent local health
services in rural areas during the present fiscal year have been
formulated by the Surgeon Generali and approved by the Secretary of
the Treasury, it was announced today*
For this purpose #1,000,000 was allotted to the Public Health
Service from Federal Emergency Relief i^unds
The Public Health S e r v M e will give financial aid through
State health departments
the maintenance of existing full-time
county or district health units when local funds available are
insufficient to provide for adequate health service.
The Public
Health Service will also undertake the establishment of new full-time
rural health units when local funds available are insufficient to
meet the entire cost. The Public Health Service will not contribute
to any project in which less than 50 per cent of the pmbl&c cost
is borne by State or local authorities.
Where State or local
authorities can meet more than 50 per cent of the total cost of a
project they will be expected to do so. The Public Health Service
will not contribute to any project in which less than 35 per cent of
the total cost is borne by local authorities*
The allocations for rural health maintenance will only be made
where the county or district unit shall be under the direction of a
whole-time medical health officer whose training shall meet the
requirements recommended by the Joint Committee on Qualifications of
County Health Officers and adopted by the Conference of State and
Territorial Health Officers*
The personnel of the unit shall consist of not less than a
whole-time medical health officer, one public health nurse and a
clerk*
The State health officers will submit to the Public Health
Service a statement of the situation in each county or district
recommended for assitance and will attach a proposed budget showing
the distribution of funds from all sources and indicating the items
required from the Public Health Service for the period ending June
30, 1935. The Surgeon General shall review subh budgets and shall
have discretion in the approval or disapproval of any project sub
mitted for consideration*
The contributions of the Public Health Service will be made
only to salary items on the budgets.
Quarterly reports will be required from State health officers
to the Public Health Service for each project, on the form provided
for this purpose, showing the -activities carried on by the unit
and presenting a statement of expenditures incurred by the several
participating agencies for the quarter*
treasury department
Washington
RELEASE, >AFTERNOON PAPERS
Tuesday,* October 23, 1934
10-23—34*
Press Service
No. 3-42"
5^
Regulations governing the participation of the Public Health
Service in the establishment or maintenance of permanent local health
services in rural areas during the present
fiscal year have been
formulated by the Surgeon‘General and approved by the Secretary of
the Treasury, it was announced today.
For this purpose $1,000,000 was allotted to the Public Health
Service from Federal Emergency Relief funds.
The Public Health Service will give financial aid through State
health departments toward the maintenance of existing full-time county
or district health units when local funds available are insufficient
to provide for adequate health service.
The Public Health Service
will also undertake the establishment of new full-time rural health
units when local funds available are insufficient to meet the entire
cost.
The Public Health Service will not contribute to any project
in which less than 50 per cent of the cost is borne by State or local
authorities.
Where State or local authorities can meet more than 50
per cent of tne total cost of a project they.will be expected to do so.
The Public Health Service will not contribute to any project in which
less thap 25 per cent of the total cost is borne by local authorities.
The allocations for rural health maintenance will only be made
where tne county or district unit shall be under the direction of a
whole— time medical health officer whose training shall meet the require
ments recommended by the Joint Committee on Qualifications of County
Health Officers#and adopted by the Conference of State and Territorial
Health Officers,
The personnel of the omit shall consist of not less than a whole-timemedical health officer, one public health nurse and a clerk..
The State health officers will submit to the Public Health Service a
statement of the situation in eachcounty or district recommended for assistance
and will attach a proposed budget showing the distribution of funds from all
sources and indicating the items required from the Public Health Service for
the period ending June 30, 1935.
She Surgeon General shall review such budgets
and shall have discretion in the approval or disapproval of any project submi tted for consideration*
The contributions of the Public Health Service will be made only to
salary items on tlie "budgets,
quarterly reports will be required from State health officers to the Pub
lic Health Service for each project, on the form provided for this purpose,
showing the activities carried on by the unit and presenting a statement of.
expenditures incurred by the several participating agencies for the quarter.
Notices went out to State health officials on October 19, 1934, announc
ing that the allocation of funds could be made as soon as desired by counties
needing assistance.
There are at the present time 550 full-time county units..
number was considerably higher, reaching 615 units.
was in Yakima County, Washington, in 1911.
In 1932 the
The first to be organized
The State health officials at that
time asked the Public Health Service to aid in setting up an agency to combat
typhoid fever.
The unit has continued active since that time.
It is estimated that less than 25 per cent of the rural population.of the
country, has the benefit of full-time health service at the present time.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 28, 1984
10/S2/S4
Press Service
,
.
K o
. 3 "
H
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated October 24, 1934, and
maturing April 24, 1985, which were offered on October 19.
were opened at the Federal reserve banks on Oetober 22,
1934*
The
total amount applied for was $205,682,000, of
which $75,102,000 was accepted* The accepted bids ranged
in price from 99*910, equivalent to a rate of about 0*18
percent per annum, to 99.894, equivalent to a rate of
about 0*21 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted* The average price of Treasury bills to be
issued is 99*900 and the average rate is about 0*20 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 23, 1934,
Press Service
No, 3 - 44
10-22—34
Secretary of the Treasury Morgentbau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury bills, dated October 24, 1934, and maturing April 24,
1935, which were offered on October 19, were opened at the Federal
reserve banks on October 22, 1934,
The total amount applied for was $205,632,000, of which
$75,102,000 was accepted.
The accepted bids ranged in price from
99,910, equivalent to a rate of about 0.18 per cent per annum, to
99.894, equivalent to a rate of about 0.21 per cent per annum, on
a bank discount basis.
Only part of the amount bid for at the
latter price was accepted.
The average price of Treasury bills
to be issued is 99.900 and the average rate is about 0.20 per
cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
FOR IMMEDIATE RELEASE,
October 23, 1934*
*T?WaSPWWIBOL*1Wlwi>(
/Vo,
Execution of the special Daniel Boone Bicentennial fifty-cent
pieces has been begun by the Philadelphia Mint, it was announced
today by the Treasury Department.
The Daniel Boone Bicentennial GommiSfJPfMll purchase'the
\
coins from the mint up to a n u m b e ^ o f L - ^ ^ O G O .
The expense of
making the models and master dies and other preparations for
A, .
.
Ja
'TOT'*.
this coinage is borne by the Bicentennial ......... .
Authorization
for the coinage was made by an Act of Congress approved M ay 26,
1934.
On the obverse side of the coin is a pioneer dressed In
buckskin standing beside an Indian.
On the reverse side is
of Daniel Boone
*
Augustus Lukeman is the designer*
‘
|
"Jr.
Jr
These coins are not obtainable at the Treasury Department
or at the Mints.
Applicati^n- for them should be
to the
Daniel Boone Bicentenni/l Commission, Lexington, Kentucky
V
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
October 23,. 1934,-
Press Service
3— 45
Execution of the special Daniel Boone Bicentennial fifty-cent pieces
has been begun by the Philadelphia Mint, it was announced today by the
Treasury Department,
The Daniel Boone Bicentennial Commission will purchase the coins from
the mint up to a number of 600,000.
The expense of making the models and
master dies and other preparations for this coinage is borne by the
Bicentennial Commission*-
Authorization for the coinago was made by an
Act of Congress approved May 26, 1934,
On the obverse side <pf the coin is a pioneer dressed in buckskin
standing beside an Indian.
On the reverse side is the head of Daniel Boone
in profile.■
Augustus Lukeman is the designer.
These coins are not obtainable at the Treasury Department or at the
Mints., Application for them should be made to the Daniel Boone Bicentennial
Commission, Lexington, Kentucky..
3
(a)
In accordance with the provisions of Sec* 402 (h) of the Federal
Housing Act, approved June 27, 1934, the Home Owners’ Loan Corpor
ation subscribed to the capital stock of the Federal Savings and
Loan Insurance Corporation in the sum of $100,000,000.
character of the obligations.
The following tabulation shows in millions of dollars a
comparison of proprietary interest as between August 31, 1934 and
July 31,
1934:
Governmental Corporations and Credit Agencies
of the United States
(In millions of dollars)
Proprietary inter
ests owned by the
Increase (*)
United States
A u g . 31,
July 31, Decrease (-)
1934
1934
I
Financed wholly from Government funds:
Reconstruction Finance Corporation ...
Commodity Credit Comoration .........
Sxnort“Import 'Ranks ............. .
Public Works Administration ..........
Regional Agricultural Credit Corporations ...............................
Production Credit Corporations .......
Other (including crop loans) .........
2,346
114
14
181
2,328
163
14
155
53
110
317
52
110
311
4
4
1
0
6
3,135
3,133
4
2
166
101
196
112
82
93
100
3
150
162
100
196
112
82
164
2
150
4
1
0
0
0
—
71
4 100
4- 1
0
Total Group II .............. .
1,003
968
+
35
Grand Total ...................
4,138
4,101
4
37
Total Group I ................
II
*
4
18
49
0
26
Financed partly from Government funds
and partly from private funds:
Federal Land Banks ••••...............
Federal Intermediate Credit Banks ....
Federal Farm Mortgage Corporation ....
Banks for Cooperatives .............. .
Home Loan Banks ......................
Home OwnersT Loan Corporation (a) ....
Federal Savings & Loan Insurance Corp.
Federal Savings and Loan Associations.
Federal Deposit Insurance Corporation.
4
4
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Wednesday, October 24, 1934.
Press Service
No.
Secretary of the Treasury Morgenthau
today made public a
combined statement of assets and liabilities of Governmental corporations
and credit agencies of the United States as of August 31, 1934.
On
September 24th the Secretary made public a similar report as of July 31,
1934.
Executive Order No. 6869, dated October 10, 1934, provides for
the publication monthly of a statement of this character on the Daily
Statement of the United States Treasury.
The report issued today shows in the case of agencies financed
wholly from Government funds a proprietary interest of the United States
as of August 31, 1934, of $3,134,841,,290, which is an increase of
$1,727,863 over the proprietary interest shown as of July 31, 1934.
In
th e
case of these wholly-owned Government agencies the proprietary interest
represents tha excess of assets over liabilities.
The Government*s proprietary interest in agencies financed
partly from Government funds and partly from private funds as of August
31, 1934, was $1,003,218,910, an
increase of $35,017,023 over the
Government fs interest as of July 31, 1934.
In the case of these partly
owned Government agencies the Governments proprietary interest is the
of assets over liabilities, less the privately owned
excess'
interest in the
assets.
It consists of the Government *s share of the capital stock
and
surplus of these agencies.
An accompanying table lists assets and liabilities of
G o vern m e n t
agencies as of August 31, 1934, classified as to agencies and as to the
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING PAPERS,
Wednesday, October 24, 1934.
10-23-34* ~ ~
7
Press Service
No. 3 - 4 6
Secretary of the Treasury Morgenthau today made public a
combined statement of assets and liabilities of Governmental corporations
and credit agencies of the United States as of August 31, 1934,
On
September 24th the Secretary made public a similar report as of July 31,
1934.
Executive Order No. 6869, dated October 10, 1934, provides for
the publication monthly of a statement of this character on the Daily
Statement of the United States Treasury.
The report issued today shows in the case of agencies financed
wholly from Government funds a proprietary interest of the United States
as of
August 31, 1934-, of $3,134,841,290, which is an increase of
$1,727,863 over the proprietary interest shown as of July 31, 1934.
In
the case of these wholly-owned Government agencies the proprietary interest
represents the excess of assets over liabilities.
The Government* s proprietary interest in agencies financed
partly from Government funds and partly from private funds as of August
31, 1934, was $1,003,218,910, an increase of $35,017,023 over the
Government*s interest as of July 31, 1934.
In the case of these partly
owned Government agencies the Government *s proprietary interest is the
excess of assets over liabilities, less the privately owned interest in
the assets.
It consists of the Governments share of the capital stock
and surplus of these agencies.
An accompanying table lists assets and liabilities of Govern
ment agencies as of August 31, 1934, classified as to agencies and as to
the character of the obligations
The following tabulation shows in millions of dollars a compari
son of proprietary interest as between August 31, 1934 and July 31, 1934s
Governmental Corporations and Credit Agencies
of the United States
(in millions of dollars)
Proprietaryr interIncrease
ests owned by the
States
[
United £
July 31,1 Decrease
Aug. 31,
1934
1934
I
Financed wholly from Government funds:
2,346
114
14
181
Reconstruction Finance Corporation
Commodity Credit Corporation
Export-Import Banks ................. .
Public Works Administration
Regional Agricultural Credit Corpora
tions . ................ ......... .
Production Credit Corporations •*••••<
Other (including crop loans)
53
52
110
110
317
311
3,135
.
#
/. 18
- 49
0
/
26
/•
*
/
6
3,133
/•
2
166
162
/
4
101
100
/
196
196
112
112
J
82
93
82
164
1
0
0
0
-
71
.1
100
——
.
-7
3
150
150
l 100
/■
1
0
Total Group I
II
2,328
163
14
155
0
Financed partly from Government funds
and partly from private funds:
Federal Land Banks • *..... .......
Federal Intermediate Credit Banks
Federal Farm Mortgage Corporation
Banks for Cooperatives •.... .*••«
Home Loan Banks ••*.*•...... .
Home Owners* Loan Corporation (a)
j
J
J
(a)
2
3?otal Group II
J
1,003
968
/
35
Grand Total
.
4,138
4,101
f
37
In accordance with the provisions of Sec* 402 (b) of the Federal Housing
Act, approved June 27, 1934, the Home Owners* Loan Corporation subscribed
to the capital stock of the Federal Savings and Loan Insurance Corporation
in the sum of $100,000,000*
o ia i Cjn n i Uf
CREDIT AGENCIES
ABI LI TI ES
OF
v v ^ f Uf tAUvnw
OF TH E UN I T E D STATES, AS OF A U G U S T 31, 1934,
R E C E I V E D FROM O R G A N I Z A T I O N S C O N C E RN ED.
COMPILED FROM R E P O R T S
S U M M A R Y
—
A SSETS
y
LO AN S
s
FINANCED W HOLLY FROM GOVERNMENT FUNDS:
ReconstructIon Finance Corporation . . .
Commodity Credit Corporation . . . . . .
................
Export-Import Banks
Public Wprks Administration, . . . . . . .
Regional Agricultural Credit C«rporatl-#ns
Production Credit Corporations . . . . .
Other (including crop loans) . . . . . .
Total, Group I . . . . . . . ,
L IA B IL IT IE S
IN V ESTM EN TS
(S E C U R IT IE S
O TH ER
CASH
S E C U R IT IE S
I.
a
vR fiNT! EC>!
1 GH
dY
u• 0 • \
...
!
$2,570,771,187
111,501,569
548,273
179,181,417
50,439,727
268,974,230
$16,445,203
215,183
13,294,775
509,026
2,111,367
4,707,090
28,587 491
3,181,416,403
65,870,135
$2,138,913
9,401,426
11,540,339
65,704,481
19,688.073
28,190,749
9,306,370
4,773,382
180,675,489
50,000
66,309,475
33,553.594
-- 26,694,050
2,458,077
- - — 1—
D
$200,000
43,211,300
40,488,565
—
8
50,420,000
13,031,j23
200,(foo
ii, FINANCED PARTLY FROM GOVERNMENT FUNDS
AND PARTLY FROM PRIVATE FUNDS:
Federal Land Banks .............
Federal Intermediate Credit Banks
Federal Farm Mortgage Ccrporatlen.
Banks for Cooperatives. . . . . .
Home Lean Banks . . . . . . . . . .
Home Owners' Loan Corporation. „ .
Federal Savings and Loan Insurance Corp
Federal Savings and Loan Associations.
Federal Deposit Insurance Corporation
Total, Group II
1.784,380,223
199,441,794
477,857,136
23,019,366
85,482,393
1,351,753,545
** Nf “•
—
99,950,900
TO TA L
$28,966,815
111,610
321,288
$285,760,971
111,610
321,288
5,691,787
2,652,620
5,691,787
2,652,620
$2,346,192,131
114,522,997
13,529,840
181,000,878
52,651,863
110,190,013
157,308,978
414,103,134
3,134,841,290
800
,650
2,123,062,808
381,318 1,859,831,243
-- 297,747,296
197,104,735
911,167,978
671,076,469
44,472,011
—
113,125,799
71,561
106,441,067
- - 3,151,678
1,556,862,772 ■ d 818,903,044 A 644,985,374
- - - - 10 0 ,000,000
- *- 3,292,800
- - - - 320,406,398
1,248,925
1,860,212,561
197,104,735
715,548,480
71,561
3,151,678
1,463,888,918
- - ---1,248,925
,329
,270
,253
,013
,092
,738
— — —
400,743,840
2,450,000
- - —
$256,794,156
256,794,156
Total Assets . .
. « .
110,000,000
190,013
220 ,l6o
1 ,700,246 ,Q 22
123,019,675
70,000,000
48,581,665
30,642,561
5,©3C,&2(
200, 000,000
1,825,379
848,404
,
2 00 000,000
7,025,701
100 ,000,355
IPS,030381
100 , 0 0 0 ,0 0 0
3,292,800
150,000,000
1,290,680,060
287,661,150
1,005,218,910
1,037,758,175
70,491,716
508,002,515
,017
9,081,051,342
1,747,154,987
2,908,175,005
4,655,389,992
4,425,721,350
287,661,150
4,138,060,200
4,005,865,682
132,194,518
FIN A N CED P A R TLY FROM GOVERNMENT FU N D S AND P A R T L Y FROM P R IV A T E FUNDS
K t b lU N A L
t
A G R 1C U L T U R A L i PRODUCT ION
C R E D IT
C R E D IT
C O R PO R A TIO N S
C O R PO R A TIO N S
1
1
. OTH ER
-
83,237,417
$548,273
50,439,727
13,294,775
----
509,026
2,032,311
2,564
76,492
----
2,412,,531,,078
40,040,52!
4,176,009
520,182
2,631,953,102
~ “ ^
1,990,915
915,416
9,660
2,002
1,864
5,778
114,634,607
13,851,128
300
391,438
918,997
181,000,878
100,000
285,760,971'
111,610
783
111,610
321,288
5,691,787
1,784,380,223
199,441,794
3,921,934,457
23,019,366
85,482,393
1,351,753,545
28,190,749
180,637,539
37,950
768,,785,,325
10 0 ,,000
9,,401,,426
1 1 ,,540,,339
66,309,475
33,553,594
26,694,050
2,458 077
-
20 0 ,,000
4
43,211,300
75,>865,,675
9,,898,,404
47,,627,,016
5,,091, 425
19,:274, 173
3,>57.6,,613
99, 641,,241
$54,095,888
263,139,860
50,420,000
40,488,565
13,031,123
28,,943,
$50,000
2,450,000
3,355,943
1,080,862
84,793
4,243,970
23,620
825,664
587,521
4,153,477
17,932.327
2,448,231
4,654,996
78,544,577
2,785,217
21
I47,490
41,593
73,456
2,347,934
126,419
138,444
3,548,>944,424
2,123,062,808
297,747,296
911,167,978
345,136
113,125,799
35,115
106,441,067
1,556,862,772
97, 764,,696
240,,714,,667
97,.764,696
1,649,717,080
190,740,000
21,245,205
16,079,489
384,437
57,294,183
381,318
17,261,792
187,043,923
1,221,843
3,232,417
890,200
2,652,620
4,338
550,119
4,838
1,860,824
119,564,858
414,103,134
3,134,841,290
13,529,840
181,000,878
52,651,863 110,190,013
316,753,568
U. S. Government Interests . . . . . . . .
2,346,1927TgT
114,522,997
13,5297840
131,000,878
52,651,863
316,753,568
500,000,000
61,257,341
1,784,934,790
^.346,192,151
3,000.000
995,431
110,527,566
114,522.997
13,750,000
110,190,013
£279,585,618
44,500,000 110,000,000 £2,017,271,889
220,160
- - 248,425
190,013
2 7 2 ,39 s
---- ------- 08,584,740
6,400,288
---- --- 1 ,700,246 ,02?
316,753,568
13,529,840
181,000,878 __ 52,651,863 110,190,013
---- $3,292,800
100,000,000 3,292,800
808,575,325
631,197,875
-------
6,575,769
10,327,719
---- - g
-- f554,3C8
9,416
3,094,917
2,713,531
2,588,285
10,443,053
563,393
100,000,000
3,292,800
150,000,000
1,037,758,175
70,491,716
100,000,000
3 292,8C0
150,000,00
1,005,210,910
1.463,888,918
262,850,247
96,279,533
166,570,714
100,642,561
---100,642,561
195,619,498 113,054,238
- - 4
f 1,228,859
195,6i9,498 111,825,379
103,289,389
g 20,995,285
82,294,104
92,973,854
100,000,000
3,292,800
92,973,854
100,000,000
2,968,107,507
123,019,675
61,702,802
48,581,665
105,030,981______ 5 ,030,626
3,134,841,290
166,570,714
70,000,000
30,642,561
---100,642,561
200,000,000
200,000,000
7 ,0 2 5 ,7 0 1
92,973,854
694,557
100 ,006,355
lO5,CJ),08l
Exclusive of Inter-agency assets and liabilities (except bond Investments),
Includes $768,835,325 preferred stock cf banks and Insurance companies,
Non-stock.
e
Exclusive of $165,330 accrued interest guaranteed by United States for which an equal amount
of cash has been deposited with Treasury tc cover, payment.
g
Includes $676,977 pk*op*rtion atj share cf earned surplus.
h
Represents 4% bonds which are exchangeable until October 27, 1934 for 3% bonds guaranteed
by United States.
Includes $631,197,875, 4% bonds, which are exchangeable until October 27, 1934 for 3% bonds
guaranteed by United States.
Includes $20,059 pripportl a c share cf earned surplus,
(Amounts shown in italics represent deductions.’
17,284,806
18,433,635
248,343,473
3,292,800
3,151,678
f
1,473,076,025
2,471,654,955
1,290,330,060
287,661,150
1,003,218,910
71,561
110,000,000
81,445,700
1,825,379
848,404
---- ------- ---111,825,379
82,294,104
7,891,909
78,544,577
7,192,712
5,532,106,918
319.157.473
169.157.473
150,000,000
715,548,480
- u* 195,619,498
60,081,193
52,127,754
1,248,925
1,860,212,561
62,145
4 , ^ 0,502
392,155,056
j3 ^
3,658,310
6,058,477
2,667,177
4,241,226,858
3,344,946
1,910,475
197,104,735
3 ;134 841,290
596,000
320,406,398
664,500,700
44,472,011
272,658,898
89,825,534
134,119,865
112,981,123
400,743,840
2,450,000
99,950,000
400,743,840
52,463,360
25,009,179
375,012
1,387,408
TO TA L
$85,475,137
477,857,136
2.138,913
169,429
73,606
---88,834
164,603
187,851
58,34$; 650 112,842,633
320,505
FED ER A L
D E P O S IT
1NSURANCE
CO RPO RATIO N
3,613,936.437
189,534,696
32,988,187
2,117,975
2,655,407
75,865,675
120,202
606,296
FED ERA L
S A V IN G S AND
LOAN
A S S O C IA T IO N S
$23,019,366
7,566,747
1,739,623
— — —
9, 299, 007
98,489
- - 18, 107, 856
2 ,568,,782
99, 281, 145
436, 318,426
FED ERA L SAV
IN G S AND LOAN
1NSURANCE
CO RPO RATIO N
$1,351,753,545
19,688,073
— — _
HCME
OW NERS '
LOAN
CORPORATION
7,256
65,704,481
- .
5,691,787.
$477,795,413
61,723
40,,084, 145
1 1 ,>525,,92 8
77,,401
14,,182,,661
240,714,667
16,079,489
9,425
28,857,390
HOME
LOAN
BANKS
14,,877,,363
909,,360
909
1 2 ,,799,,859
CC 9&±C>9UuO
---479,195
4.890,495
BANKS
FOR
C O O P E R A T 1V E S
---$3,324,288
---1,382,802
2 0 0 ,0 0 0
m
$189,472,973
9,968,821
381,,761,,373
8,
,494,,812
116 ,435,,868
307,,521,,427
_ - _
215,158
25
FED ERA L
F mRM
MORTGAGE
CORPORATION
$85,475,137
»0 1
0
0
9,155,512
7,289,691
FED ERA L
IN TERN ED 1A TE
C R E D IT
BANKS
$600 ,336 ,308
476 ,844,023
57 ,463,289
539 ,338
31:,494 ,081
1 ,615 ,804.
178 ,678 ,350
5 ,521 ,140
84 ,033,,469 $1,784,380,223
161 ,941 ,296
—
819,,020
- - 146,,376,,700
268,,974,,230
FED ERA L
LAND
BANKS
TO TAL
- —
$37 ,711 ,041
- - P - - - - _ _
34 ,000
- - 84 ,033,469
— — —
$50,439,727
179,181,447
6Z C>
D E T A I L S
,______________
$95,944,000
548,273
105,030,981
4 ,380,502
,
110 0 0 0 ,0 0 0
81,445,700
4,241,226,858
111,501,569
8,400,288
__ -271,305
61,702,802
2,750,866,027
P U B L I C WORKfe
EXPO RTA D M IN IS T R A
IM PORT BA N KS
T IO N
08,584,740
-C- 2,017.271.889
2,968,107,507
1,490,360,831
CUMVIOD 1T Y
C R E D IT
CO RPO RATIO N
$1,784,934,790
110,527,566
248,425
5,532,106,918
114,522,997
OFFICE OF THE SECRETARY.
$61,257,341
995,431
145
2,346,192,131
TREASURY DEPARTMENT,
$500,000,000
3,000,000
13.750.000
C 279,585,618
44.500.000
247,300,088
100,000
d
166,570,714
100,642,561
195,619,498
111,825,379
82,294,104
92,973,854
10 0 ,000,000
3,292,800
150,000,000
IN T E R -A G E N C Y
1N T E R E S T S
------ -------------------------
403,695,395
768,785,325
b
c
262.850,247
$96,279,533
- - 100,642,561
- - 195,619,498
113,054£ 38 ' t 1,228,859
103,289,389
£ 20,995,285
- - 92,973,854
- - 10 0 ,000,000
- - 3,292,800
319,157,473
169,157,473
— -------------- —
""771037350,860 _ 428,354,567
—
Excess of Assets over Liabilities,
exclusive of inter-agency transactions
Privately owned Interests . . . . . . . . .
Distribution of Government Interests:
Capital Stock . . . . . . . . . . . . .
Surplus . . . . . . . ............. „
Inter-agency Interests (net) . . . . .
3,134,841,290
SU R PLU S
403,193,840
£98,524,456
7,675,792
116,435,868
160,596,454
1,801,885,862
Total Liabilities
—
IN T E R E S T S
—
H
247,100,088
$111,501,569
LIABILITIES:
Bonds, ,/^otes and Debentures:
Ob'.|hptions guaranteed by U. S. . . .
All. ether . . . . . . . . . . . . . .
Accrued Interest:
Gunr indeed by U. S. . . . ..........
All Qthir ....................... .
Other Liabilities (inc. trust accounts)
Reserves:
Legal. Reserves....... .
Reserve for Uncollectible Items . .
Other . . . . . . ................
$2,346,192,131
114,522,997
13,529,840
181,000,878
52,651,863
110,190,013
S.
392,155,056
$600,336,308
343,188,982
57,463,289
389,338
31,494,081
1,615,804
178,644,350
5,521,140
Cash:
With U. S. Treasury....... .
On hand and in 3 a n k s ............. .
In transit ........................
In trust funds ................. .
Investments:
U. S. Securities............... . . .
Obligations guaranteed by U. S:
Federal Farm Mortgage Corporation .
*• Home Owners 1 Loan Corporation . . .
Federal land bank bonds ......... . .
Intermediate Credit Bank Securities . .
Production Credit Associations:
Class A stock . . . . . . .
Accounts Receivable (tax advances, etc.)
Accrued Interest Receivable ..........
Other Repayable Assets . . . . . . . . .
Peal Estate and Business Property . . , .
Real Estate held for S a l e ....... . .
Other Assets........... . . . . . . . »
C A P IT A L
STO C K
------
$44,736,712 $2,631,953,102
2,917,855
114,634,607
8,080
13,851,128
1,310,435
181,000,878
5,792,556
58,343,650
$104,808,675
987,955
112,842,633
129,355,279
436,318,426
104,808,675
,872 3,548,944,424
OF U .
263,139,860
F 1NANCE
CO RPO RATIO N
Preferred stock, capital notes, and debentures
Banks and Trust Companies . . . . . . . .
Insurance Companies . . . . . . . . .
D IS T R IB U T IO N
OWNED BY
U N IT E D
STATES
P R IV A T E L Y
OWNED
a
F IN A N C E D WHOLLY FROM GOVERNMENT FUNDS
Sub-total.
E X C E S S OF
A S S E T S O VER
L IA B IL IT IE S
IN T E R E S T S
54,095,888
.----------- ■— ------------ -------------------- 1— - ------------- --- -— ------------------------------------------------------ ----------------------------- ,1_____________________________;___
SETS:
Loans Banks................. .
Railroads ...................
Insurance Companies .........
Credit Unions ...............
Building and Loan Associations
Live-stock Credit Corporations
Mortgage Loan Companies . . . .
Agricultural Credit Corporations
Mortgage Leans . , .........
Crop, Live-stock and Commodity Loans
Cooperative Associations
States, Territories, etc.
Joint Stock Land Banks .
Federal Land Banks . 'I ..
Other .................
P R O P R IE T A R Y
362,484,432
3,921 934,457
Grand Total . .
TO T A L
a
NOT GUARAN TEED
BY.
U N IT ED
STA TES
GUARANTEED
BY
U N IT E D
STA TES
A LL 0TH ER
AND R E S E R V E S
§4
It is further required that a meter of sufficient capacity mast "be
installed as near as possible to the racker tank or tanks, in such manner that
all beer moving into the racking machine will pass through the meter*
When it is necessary to dismantle and reassemble a meter incident to
cleaning or adjusting, a Government inspector must be present and supervise
the entire operation*
Th® brewer cannot possess meter keys*
These are in
Government custody at all times*
Government cap seals will make secure all parts of the meter and
counter-mechanism*
Government cap seals replace the manufacturers seals
as soon as installation is made in accordance with specifications and required
approval*
A record then will be made of the original reading of the continuous
counter before beer can be run through the meter*
Government officers will be provided with master meters for checking
the accuracy of all meters installed at breweries*
will check the master meters at regular intervals*
-o-
The Bureau of Standards
3
Accurate measurement of bottled beer for internal revenue tax collection
will be assured*
Improved control and check over the racking room will be estah- I
lished* The possibility of beer measuring tanks getting out of calibration will
be eliminated.
Beer can be bottled or/racked illegally only by circumventing
the meter in a manner that can be readily detected* and ^dien detected by a
Government officer* would furnish conclusive proof of fraud*
Meter installation in breweries will allow the withdrawal of a large
number of Government inspectors now stationed at those plants* and their reassig&j
ment to other important duties*
The brewing industry will have these advantages in the use of meters:
There will be greater assurance of accurate measurement commensurate with beer
actually bottled or packaged.
Losses brewers have sustained under the present
method of taxing remnants left in measuring tanks, will be prevented, A consider*
saving will accrue to the brewer in the reduction of necessary tank capacity for I
bottling in original installations and elimination of his replacement costs for
such equipment*
Brewers will have greater freedom of operation* as they will be permitted
to pump and bottle beer at their convenience, obviating delays existing under the;
present system due to lack of sufficient Government inspection personnel to
properly supervise operations at isolated plants*
The regulations prescribe rigid procedure to govern installation and
check of meters,
A meter of sufficient capacity must be installed in such
manner that all beer moving into the bottling house must pass through the meter.
In a bottling house having a capacity in excess of the working capacity of a
single meter, an additional meter or meters must be provided*
2
practical and desirable type of "beer meter*
Xn tlie course of these experiments* recent inspection was made of a
meter installed in the bottling house of a large brewery. The meter was a
stock gasoline meter of the direct volumetric type. The purpose was to test
its performance regarding accuracy* durability and adaptability.
Inspection
revealed that the meter,in the year since installation,had metered 23,000
barrels of beer, without appreciable error. Government officers and many
representatives of the brewing industry observed the tests and pronounced
them satisfactory.
Another meter* produced by the same manufacturer* and modified
especially for beer metering, was tested on the barrel racking machine. During
several weeks actual use no operating difficulties were encountered. The
recorded flow checked very closely with the stamp record.
In addition to
testing the meter for accuracy, it was subjected to back-washing tests to
reveal any tendency to record backwards and to disclose any mechanical
difficulties with a reverse flow. The test showed the counter-reading was
not reduced.
Ifevcfr experimental meter, of a type approved by the Government* is
rugged in construction and is not suspectible of being thrown out of adjustmei
without the breaking of Government seals. The meter is considerably more
accurate than the present system of measuring.
If the meter registers any
inaccuracy it can be readily readjusted by the breaking of protective seals
by a Government officer.
The series of tests under actual plant conditions have shown that the
use of the meter will prove to be an advantage both to the Government and
the brewing industry.
3-H7
Brewers will be required to install meters for measuring and tax-payment
of beer, on and after March 1, 1935, by regulations signed by the Secretary of
the Treasury today.
The beer meter requirement is the principal new provision
in general regulations Ho. 18, which codifies existing decisions, procedure and
regulations, governing the manufacture and tax-payment of fermented liquors.
Decision to require installation of meters at all breweries,is a part of
the general program to provide greater protection for the revenue at the sources
of liqser supply. Authority for this action was vested in the Commissioner of
Internal Bevenue by Section 607 of the Bevenue Act of 1918. The decision will
apply to 693
breweries
now operating*
The meter method for measuring beer for tax-payment has been fully
Remonstrated, after exhaustive study and experimental teste, to assure more
Scientific and accurate measurement, and removes opportunity for tax evasion.
The present measuring tank system, requiring constant inspection and supervision
at the plants, was found to be inadequate to protect the revenue,' with the rapid
expansion of the brewing industry since beer was legalized.
Meters installed must conform to approved Government specifications.
Specifications have been prepared and issued to various meter manufacturers.
It is expected that meters of approved types will he available to breweries
before December 1,1934.
The specifications are rigid in their requirements,
and are built around the technical needs of the brewing industry, consistent
with revenue safety*
The Alcohol Tax Unit, supervising brewery operations,has for some time
collaborated with the Bureau of Standards and the brewery industry throughout
the United States in conducting experimental tests to develop the most
TREASURY DEPARTMENT
Washington
RELEASE, AFTERNOON NEWSPAPERS,
Friday, October 26, 1934,
Press Service
No, 3 - 4 7
Brewers will he required to install meters for measuring and tax-payment
of beer, on and after March 1, 1935, by regulations signed by the Secretary
of the Treasury today.
The beer meter requirement is the principal new
provision in general regulations No, 18, which codifies existing decisions,
procedure and regulations, governing the manufacture and tax-payment of
fermented liquors.
Decision to require installation of meters at all breweries is a part
of the general prpgram to provide greater protection for the revenue at the
sources of supply.
Authority for this action was vested in the Commissioner
of Internal Revenue by Section 607 of the.Revenue Act of 1918,
The decision
will apply to 693 breweries now operating.
The meter method for measuring beer for tax-payment has been fully
demonstrated, after exhaustive study and experimental tests, to assure more
scientific and accura te measurement, and removes opportunity for tax evasion.
The present measuring tank system, requiring constant inspection and super
vision at the plants, was found to be inadequate to protect the revenue, with
the rapid expansion of the brewing industry since beer was legalized.
Meters installed must conform to approved Government specifications.
Specifications have been prepared and issued to various meter manufacturers.
It is expected that meters of approved types will be available to breweries
before December 1, 1934,
The specifications are rigid in their requirements,
and are built around the technical needs of the brewing industry, consistent
with revenue Spfety,
The Alcohol Tax Unit, supervising bre\very operations, has for some time
collaborated with the Bureau of Standards and the brewing industry throughout
the United States in conducting experimental tests to develop the most
-2-
practical and desirable type of "beer meter.
In the course of these experiments, recent inspection was made of a
meter insfalled in the bottling house of a la.rge brewery.
stock gasoline meter of the direct volumetric type.
The meter was a
The purpose was to test
its performance regarding accuracy, durability and adaptability.
Inspection
revealed that the meter, in the year since.installation, had metered 23,000
barrels of beer,.without appreciable error.
Government officers and many
representatives of the brewing industry observed the tests and pronounced
them satisfactory.
Another meter, produced by the same manufacturer, and modified
especially for beer metering, was tested on the barrel racking machine. During
several weeks actual use no operating difficulties were encountered.
recorded flow checked very closely with the stamp record.
The
In addition to
testing the meter for accuracy, it was subjected to back-washing tests to
reveal any tendency to record backwards and to disclose any mechanical
difficulties with a reverse flow.
The test showed the counter-reading was
not reduced.
Each experimental meter, of a type approved by the Government, is
rugiptd in construction and is not susceptible of being thrown out of adjustment
without the breaking of Government seals.
The meter is considerably more
accurate than tne present system of measuring.
If the meter registers any
inaccuracy it can be readily readjusted by the breaking of protective seals
by a Government officer.
The series of tests under actual plant conditions have shown that the
use of the meter will prove to be an advantage both to the Government and
the brewing industry.
~3~
Accurate measurement of "bottled leer for internal revenue tax collection
will "be assured.
established.
Improved control and check over the racking room will "be
The possibility of beer measuring tanks getting out of calibration
will be eliminated.
Beer can be bottled or racked illegally only by circumr-
venting the meter in a manner that can be readily detected, and when detected
by a Government officer, would furnish conclusive proof of fraud.
Meter installation in breweries will allow the withdrawal of a large
number of Government inspectors now stationed at those plants, and their
reassignment to other important duties.
The brewing industry will have these advantages in the use of meters:
There will be greater a.ssurance of accurate measurement commensurate with beer
actually bottled or packaged.
Losses brewers have sustained under the present
method of taxing remnants left in measuring tanks, will be prevented.
A
considerable saving will accrue to the brewer in the reduction of necessary
tank capacity for bottling in original installations and elimination of his
replacement costs for such equipment.
Brewers will have greater freedom of operation, as they will be permitted
#
to pump and bottle beer at their convenience, obviating delays existing under
the present system due to lack of sufficient Government inspection personnel
to properly supervise operations at isolated plants.
The regulations prescribe rigid procedure to govern installation and
check of meters,
A meter of sufficient capacity must be installed in such
manner that all beer moving into the bottling house must pass through 'the
meter.
In a bottling house having a capacity in excess of the working
capacity of a single meter, an additional meter or meters must be provided.
-4It is further required that a meter of sufficient capacity must be
installed as near as possible to the racker tank or tanks, in such manner^
that all heer moving into the racking machine will pass through the meter.
When it is necessary to dismantle and re—assemble a meter incident to
cleaning or adjusting, a Government inspector must be present and supervise
the entire operation.
The brewer cannot possess meter keys*
These are in
Government custody at all times.
Government cap seals will make secure all parts of the meter and
counter-mechanism,
Governmenta cap seals replace the manufacturer’s seals
as soon as installation is made in accordance with specifications and
required approval*
A record then will be made of the original reading of
the continuous counter before beer can be run through the meter.
Government officers will be provided with master meters for checking
the accuracy of all meters installed at breweries.
will check the master meters at regular intervals.
The Bureau of otandards
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 26 , 1934.
Reference is made to Press Service Ho. 3 - 47, for release afternoon
papers, Friday,October 26, 1934*
The first sentence should read
4tBrewers will be required to install meters for measuring and
tax-payment of beer, on and after March 1, 1935, by regulations signed
by the Secretary of the Treasury yesterday, October 25, 1934*
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
October 26, 1934
Reference is made to Press Service No* 3—47, for release afternoon
papers, Friday, October 26, 1934.
The first sentence should read:
“Brewers will be required to insball meters for
measuring and tax-payment of beer, on and after
March 1, 1935, by regulations signed by the
Secretary of the Treasury, yesterday, October
25, 1934 ti
TREASURY DEPARTMENT
Washington
October 29, 1934
MEMORANDUM FOR THE PRESS:
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 195^)
Week ended October 28, 1934:
260,363.13 fine ounces
San Francisco...............................
8.557.00
"
"
Denver..... .................................
..........
268,900.13
Total for week ended Oct. 2 6 ..............
Total receipts through October 26, 1954.... ...15,815,000.00
SILVER TRANSFERRED TO THE UNITED STATES:
(Under Executive Order of August 9, 1954)
Week ended October 26,1934:
21.254.00 fine ounces
Philadelphia...... ...............
637,945.00 "
New York.................. ........
84.695.00 fl
San Francisco...... .
1,359.00 "
Denver............................
694.00 n
New Orleans.......................
522.00 u
Seattle........................... ______________
Total for week ended Oct.26.....
746,469.00
Total receipts through Oct.26, 1954.. 98,068,937.00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES;
Week ended October 26, 1954:
Philadelphia................
New Y o r k.....................
San Francisco ..............
Denver...... ...............
New Orleans.......... .
Seattle.....................
Total for week ended Oct.26
Imports
>
14,357.42
2,196,800.00
37,594.27
19,156.00
1,615.13
2,269,502.82
Secondary
326,171. ly*
637,400.00
135,447.03
57,13^.00
61,844.72
21,880.98
fj 1,219,880.87
New
Domestic
$
1,353.56 1
• ••
1,334,935.17
736,314.00
391.45
368.556.69
|2,441,550.87
GOLD RECEIVEDBY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Oct. 24........ ......
Received previously......... .
Total to October 24, 1934........
Received by Treasurers Office:
Week ended Oct. 24............ .
• •• •
Received previously.....
Total toOctober 24, 1934.
NOTE:
$
|
Gold Coin
51,404.91
29,225.727.59
>,277,132.50
5,800.00
252.802.00
256.602.00
told Certificate!
$
979,130.00
75.624.590.00
$74,603,720.^0
$
26,200.00
1.786.900.00
$ 1,813,100.00
Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:.
October 29, 1934.
RECEIPTS OP SILVER BY THE MINTSt
(Under Executive Order of December 21, 1933)
Week ended October 26, 1934:
San Francisco*..■*> ............. .
Denver.*............................
260.363.13 fine ounces
it
8,537.00
»»
it
268.900.13
«
it
15,813,000.00
"
Total for week ended Oct. 26*.,....
Total receipts through October 26, 1934
SILVER TRANSFERRED TO THE UNITED STATES:.
(Under Executive Order of August 9, 1934)
Week ended October 26, 1934:
Philadelphia..............
21 ,254,.00 fine ounces
n
ir
New York..*........ .
637,,945,.00
»
it
San Francisco.... ...............
84,,695,.00
i
t
i
t
Denver.-.. .. •. .... .... ........,
1,,359,.00
u
i
»
New Orleans.... .,. ..,........
694,.00
i
i
n
Seattle...................
522,.00
if
it
Total for week ended Oct .26•...
746,,469,.00
tf
if
Tbtal receipts through Oct,26 ,1934.. 98,068,,937.,00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended October 26, 1934:
______ Imports
P h i l a d e l p h i a . $
14,357.42
New York. *....... ..... ......
2,196, 800 ..00
San Francisco................
37,594.27
19,136.00
Denver...... .. .,.............
New Orleans...........,**...,...
1,615.13
Seattle............. .
........ .,. t
Total for week ended Oct.26
$2,269,502.82
Secondary
$ 326,171.14
637,400.00
135,447.03
37,137.00
61,844.72
21,880.98
$1,219,880.87
New
Domestic
$
1,353.56
•••
1,334,935.17
736,314.00
391.45
368,556.69
$2,441,550.87
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:.,
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Oct. 24..............
Received previously......... .
Total to October 24, 1934.......
_____ Gold Coin
$
51,404,91
29,225,727.59
$29,277,132.50
Gold Certificates
$
979,130.00
73,i624,590,00
$74,603,720.00
Received by Treasurers Office:
Week ended Oct. 2 4 . .........
Received previously..............
$
3,800.00
252,802,00
$
Total to October 24, 1934,......
~1$
256,602.00
$ 1,813,100.00
NOTE:
Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
26,200.00
1,786,900.00
■ ■ ■
-
2-
such details as to profits, losses, or other information as would enable the
Commissioner to determine whether all income tax due on th6 profits and gains
of such customers had been paid.
The information returns filed by the brokers
were checked against the records of the Bureau and associated with the income
tax return of citizens and nonresident alien individuals alike, where such returns
had been filed, and in the absence of returns for the years in question letters
were recently addressed to citizens, nonresident alien individuals, and foreign
corporations requesting that returns be filed reporting the income derived from
such transactions within the United States.
Undoubtedly the failure of the non
resident alien individuals and foreign corporations to file returns reporting
income from sources within the United States, as required by the income tax
laws, was due largely to their lack of knowledge and understanding of the require
ments of those laws.
The information returns filed by brokers serve as an
additional source of information to the Bureau as to taxable income of individuals
and corporations and it is upon the basis of this additional information that
letters have recently been mailed requesting returns of those that the records
indicated failed to file returns as required by the income tax laws.
It was
stated by the Commissioner that in connection with the information obtained
from the brokers a number, of resident and nonresident taxpayers have, upon being
advised of the requirements of the law, voluntarily submitted returns reporting
taxable income and paid the tax due thereon.
He also stated that in those cases
where the required returns had not been filed and the correct tax paid it is his
duty under the law to proceed from the information available to determine the
additional tax due and collect it together with the penalties and interest imposed
by law.
The failure of nonresident alien individuals to file the required return-;
was due in large part to their lack of knowledge and understanding of the income
Bureau of Internal Revenue
For Release
Press Release No#
Certain articles recently appearing in the press givejJ omm the impres
sion that some nonresident alien individuals with whom the Bureau of Internal
Revenue has recently taken up the matter of income from sources within the
United States, are of the opinion that such action by the Bureau is based upon
a new position or policy under the income tax. law and that such action is a
reversal of former practice and policy of the Bureau.
Commissioner of Internal
Revenue, Guy T. Helvering, in commenting upon the matter today stated that
efforts to collect the income tax properly due from nonresident aliens on income
from sources within the United States is not a change in either the policy or
the position of the Bureau which has been followed in past years.
The more
recent Revenue Acts as well as the earlier Acts require that every individual
having gross income from sources within the United States is required to file
a return reporting all items of income and deductions from such sources, and
pay the tax due on the net income thus disclosed*
The law is applicable to
nonresident alien individuals having income from sources within the United
States the same as to resident individuals with minor exceptions in respect of
deductions and credits allowed.
Income from sources within the United States
is defined by the law as including gains and profits derived from the sale of
personal property within the United States#
Under the present law and regulations over 100,000 nonresident alien
individuals have made declarations of their income from sources within the
United States each year and have paid the income tax due#
On October 14, 1935, an order was released requiring every person doing
business as a broker or other agent to render returns showing the names of cus
tomers for whom business was transacted during 1929 and succeeding years, with
TREASURY DEPARTMENT
Press Service
No, 3 - 4 8
FOR IMMEDIATE RELEASE,
October 26, 1934.
In response to.letters notifying nonresident alien individuals that they
should make income tax returns on taxable incomes earned within the United States,
many such nonresident aliens have voluntarily filed returns and paid the tax,due,
Commissioner Guy T. Helvering of the Internal Revenue Bureau announced today.
Collection of income tax from nonresident aliens is not a new Bureau policy,
Commissioner Helvering said.
More than 100,000 nonresident aliens have made
declarations of their incomes from sources within the United States each year.
Through lack of information or misunderstanding many nonresident aliens were
unaware that their incomes from this country were taxable by the Internal Revenue
Bureau,
As a result of the order released October 14, 1933, requiring those acting
as brokers or agents to make returns showing the names and giving other informa
tion regarding customers for whom business was transacted during 1929 and
succeeding years, these nonresident aliens are now aware that returns must be
filed.
They were so notified when a, check of the returns from American brokers
indicated taxable incomes.
In cases where required returns have not been filed after notification that
they are due, under the law, the Commissioner determines the tax due and collects
it together with penalties and interest imposed by law.
Where such nonresident alien individuals voluntarily file delinquent returns
reporting their taxable incomes from sources within the United States and pay the
tax due thereon, it will be the policy of the Bureau to be as lenient as the law
permits in the assertion and collection of the penalties.
individuals.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
October 29, 1934.
Press Service
Ho. 3 - 4 9
ACTIVITIES OF IHVESTIGATORS.
ALCOHOL TAX UNIT, FOR WEEK ENDING- OCTOBER 20.
1934.
(Corrected statement based on complete weekly reports
of investigators)
Dist.
Ho.
1
States
Stills
Seized
Conn.
Maine
Mass.
N* H.
R. I.
vt.
1
1
TOTAL
2
3
4
Hew York
6
7
150
100
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
198
13
11
46
4, 200
Autos &
Trucks
Seized
Value of
Property
Seized
$
Arrests
2
350
526
25
675
4
1
5
5
2
250
268
4,200
3
$ 1,576
14
17
8,566
1,349
134,492
8
$21,935
34
8
1,195
841
14, 804
9
$ 4,555
26
5
6,210
1,774
20,922
$ 4,179
18
5
6,210
1,774
20,922
$ 4,179
18
$
700
250
371
2,500
570
6
18
9
17
14
Penn.
Del.
H. J.
TOTAL
5
Capacity
D. C*
Md.
H. Gar,
Va.
W. Va*
3
11
14
2
430
1,370
1,661
125
268
127
93
489
85
7, 525
18,934
14, 730
700
2
1
2
2
4
TOTAL
30
3,586
1,062
41, 889
11
$ 4,391
64
Ala,
Fla.
Ga.
S.Car.
15
16
22
8
5,260
3, 850
3,400
765
312
700
417
209
6,055
19, 675
25,400
5,592
5
5
9
5
$ 2,996
4,468
4, 290
1,036
22
14
40
19
TOTAL
61
13,275
1,638
56,722
24
$12, 790
95
17
20
857
7,460
238
325
5,500
54,350
1
2
$ 1,527
3,126
22
10
37
8,317
563
59, 850
3
$ 4,653
32
Ky.
Tenn.
TOTAL
Dist.
No.
States
Stills
Seized
Capacity
Gals. of
Spirits
Seized
G-als, of
Mash
Seized
Value of
Property
Seized
Autos &
Trucks
Seized
Arrests
Mich.
Ohio
3
6
350
940
199
383
3,650
5,800
1
3
$
1,018
2,235
2
9
TOTAL
9
1,290
582
9,450
4
$
3,253
11
111.
Ind.
Wise.
10
2
6
1,570
78
120
255
6
123
20,035
750
1,150
$
7,885
1
790
13
3
4
TOTAL
18
1,768
384
21,935
1
$
8,675
20
La.
Miss.
Texas
13
13
18
265
1,375
1,420
202
175
134
434
10,825
6, 890
5
4
6
$
934
1, 895
1,709
18
25
36
TOTAL
44
3,060
511
18,149
15
$
00
CO
in
79
Ark.
Kansas
Mo. ■
OkLa.
10
1,380
10,250
570
850
5,092
3,270
2
1
4
2
$
6
10
356
11
146
266
1,440
100
1,890
1,700
19
5
21
24
TOTAL
26
2, 800
779
18,612
9
$
5,130
69
5
5
425
400
95
97
2, 650
1,990
1
1
$
400
520
8
11
1
2
25
40
5
34
100
125
6
1
2
TOTAL
13
890
231
4,865
2
$
926
22
Ariz.
Colo.
2
3
1
135
110
50
30
55
9
600
680
100
$
3
340
289 '
60
2
13
4
TuTAL
6
295
94
1,380
3
$
689
19
Calif.
Hawaii
Nevada
9
1,265
1,701
25,750
35
2
$
20,575
9
2
TOTAL
9
1,265
1,701
25,785
2
$
20,575
11
Idaho
Mont.
Ore.
75
50
250
311
3
60
63
99
150
$
ilcl S i l #
1
1
1
3
1,300
990
1
3
15
28
300
772
9
2
9
TOTAL
6
686 '
225
2,440
4
$
1,115
20
GRAND TOTAL
291
12,002
435,495
98
$
98,980
534
8
9
10
!
11
12
13
Iowa
Minn.
Ned.
N.Dak.
3. Dak.
•
•
0
Utah
Wyom.
14
15
53,453
'
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October SO, 1934.
1Q/29/34
Press Service
^VVtn 3 ^ **
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated October 31, 1934, and
maturing May 1, 1935, which were offered on October 26,
were opened at the Federal reserve banks on October 29,
1934.
The total amount applied for was $198,826,000, of
nfcieh $75,015,000 was accepted*
The accepted bids ranged
in price from 99.914, equivalent to a rate of about 0.17
percent per annum, to 99.899, equivalent to a rate of
about 0.20 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99.905 and the average rate is about 0.19 per
cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, October 30. 1934.
.
10-29-34,
p ress Service
3
50
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75,000,000, or thereabouts, of 182-day Treasury bills, dated
October 31, 1934, and maturing May 1, 1935, which were offered on October
26, were opened at the Federal reserve banks on October 29, 1934.
The total amount applied for was $198,826,000, of which $75,015,000
was accepted.
The accepted bids ranged in price from 99.914, equivalent
to a rate of about 0.f.7 per cent per annum, to 99.899, equivalent to a
rate of about 0.20 per cent per annum, on a bank discount basis.
part of the amount bid for at the latter price was accepted*
Only
The average
price of Treasury bills to be issued is 99.905 and the average rate is
about 0.19 per cent per annum on a bank discount basis.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, November 3, 1984
10/2/34
Press Service
-.5
J -' s f V
f
Secretary of the Treasury Morgenthau announced last
sTening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated November 7, 1984, and
maturing May 8, 1935, which were offered on November 1,
were opened at the Federal reserve banks on November 2,
1984.
*
- •‘'fV'F
The total amount applied for was $158,080,000, of
which $75,075,000 was accepted* The accepted bids ranged
in price from 99.909, equivalent to a rate of 0*18 per
cent per annum, to 99*884, equivalent to a rate of about
0.28 percent per annum, on a bank discount basis* Only
part of the amount bid for at the latter price was accepted
The average price of Treasury bills to be issued is 99.898
and the average rate is about 0*21 percent per annum on a
bank discount basis.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- NEWSPAPERS,
Saturday, November 3, 1934.
10-2-34
Press Service
No. 3 - 5 1
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75,000,000, or thereabouts, of 182-day Treasury bills, dated
November 7, 1934, and maturing May 8, 1935, which were offered on November
1, were opened at the Eederal reserve banks on November 2, 1934.
The total amount applied for was $168,030,000,. of which $75,075,000
was accepted.
The accepted bids ranged in price from 99.909, equivalent
to a rate of 0.18 per cent per annum, to 99.884, equivalent to a rate of
about 0.23 per cent per annum, on a bank discount basis.
the amount bid for at the latter price was accepted.
Only part of
The average price
of Treasury bills to be issued is 99.893 and the average rate is about
0.21 per cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
November 5, 1934.
RECEIPTS OF SILVER BY THE MINTS;
(Under Executive Order of December 21, 1933)
Week ended November 2, 1934:
Philadelphia
................. ............
547,884.67 fine ounces
San Francisco................ .............. .
277,403.55
"
"
Denver........... ........... ................
1.054.00
H
"
Total for week ended Nov. 2, 1934..... .
826,342.02
Total receipts through Nov. 2, 1934............ 16,639,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended November 2, 1934:
Philadelphia................................
56,194.00 fine ounces
New Y ork.....................................
7,046,708.00
"
San Francisco ..............................
48,945.00
n
Denver ......................................
4,323.00
”
New Orleans..................................
322.00
Seattle ...........................
781.00
”
Total for week endedNov.
2,1934........
7,157,275*00
"
Total receipts through Nov. 2,1934...........
105,226,210.00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended November 2, 1934:
Philadelphia.................
New Y ork........... ..........
&an Francisco..... ..........
Denver.......................
New Orleans..................
Seattle......................
Total for week ended Nov. 2..
|
19,240.13
5,396,700.00
19,481.99
36,713.00
995.05
5,473.130.17
New
Domestic
Secondary
Imports
$
284,322.33
584,000.00
166,699.54
37,576.00
42,442.06
15*704.52
$1,130,744.25
$
809.55
317.300.00
877,341.91
513.270.00
112.60
204.655.45
$1,913,487.51
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary1s Order of December 28, 1933/
Received by Federal Reserve Banks:
Week ended Oct. 31, 1934........
Received previously..............
Total to Oct. 31, 1954.......
Gold Coin
50,397.12
29*277*152.50
$29,327,529.62
$
Received by Treasurer’s Office:
Week ended Oct. 31, 1934.........
Received previously...... .......
____ 256*602.00
Total to Oct. 31, 1934..........
$
256,602.00
NOTE: Gold bars deposited with the New York Assay Office
to the amount of ^200,572.69 previously reported.
Gold Certificates
$
840,720.00
74*605^720.00
$75,444,440.00
$
16,500.00
1*815*100.00
$ 1,829,600.00
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
Novemher 5, 1934*
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Order of December 21, 1933)
Week ended November 2, 1934:
Philadelphia .............................. .
547,884.67 fine ounces
II
San Francisco .................. ...........
277,403.35
»
It
Denver .......... ...........................
1,054,00
»
II
Total for week ended Nov. 2, 1934 ......
• 826,342.02
"
I
I
Total receipts through Nov. 2, 1934 ......... 16,639,000.00
*
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Order of August 9, 1934)
Week ended November 2, 1934:
Philadelphia ............... ...............
56,194.00 fine ounces
New Y o r k .... ...............................
7,046,708.00
*
48,945.00
#
San Francisco .............................
Denver ...........
4,323.00
"
New Orleans ................................
322.00
"
Seattle ........................... ......... . ....... 781.00
I
Total for week ended Nov. 2,1934 ........
7,157,273.00
"
it
Total receipts through Nov. 2, 1934 ...... ....105,226,210.00
"
RECEIPTS OF GOLD 3Y THE MINTS AND ASSAY OFFICES:
Week ended November 2, 1934:
Imports
Philadelphia .................. $
19,240.13
5,396,700.00
New York ......................
San Francisco .................
19,481.99
36,713.00
D e n v e r .......
New Orleans ...................
995.05
Seattle .......................
.......
Total for week ended Nov. 2.... $5,473,130.17
New
Domestic
Secondary.
$
284,322.33
584,000.00
166,699.54
37,576.00
42,442.06
.... 15,704.32
$1,130,744.25
$
809.55
317,300.00
877,341.91
513,270.00
112-60
204,653.45
$1,913,487.51
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE: ;
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Oct. 31, 1934 ........
Received previously ..............
$
Total to Oct. 31, 1934 ........ .
$29,327,529.62
$75,444,440.00
$
$
Received by Treasurer’s Office:
Week ended Oct. 31, 1934 ..........
Received p r e v i o u s l y ....... .
Total to Oct. 31, 1934 ...........
$
Gold Coin
50,397.12
29,277,132.50
------256,602.00 .
256,602.00
NOTE: . Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
Gold Certificates
$
840,720.00
74,603,720.00
16,500.00
1,813,100.00
$ 1,829,600.00
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
November 5, 1934.
Press Service
No. 3 - 52
ACTIVITIES 0? INVESTIGATORS-,
ALCOHOL TAX UNIT, FOR WEEK ENDING OCTOBER 27, 1934.
(Corrected statement based on complete weekly reports
of investigators)
Dist.
No.
1
States
Stills
Seized
Conn.
Maine
Mass.
N. H.
R. I.
Vt.
Capacity
Gals, of
Spirits
Seized
Gals, of
Mash
Seized
Auto &
Trucks
Seized
Value
of Property
Seized
Arrest
$
1
8,000
16
1,901
91,000
5
2
80
150,400
1
463
3
8
TOTAL
1
8,000
1.9 22
91,000
3
$150,943
11
2
New York
9
5,777
3,071
69,300
3
$
8,938
10
3
Penn.
4
525
351
7,650
3
$
2,847
17
4
Del.
N. J.
1
3
750
1,180
2,500
20,000
$
1,955
750
1,952
14
TOTAL
4
1,930
1,955
22,500
$
2,702
15
D. C.
Md.
N •Car•
Va.
■W. -Va.
24,835
1,867
2,199
280
524
135
96
289
219
$
7
14
16
4
118,775
22,439
11,850
5,880
1,145
97,861
TOTAL
41
29,181
1,263
Ada.
Ela.
Ga.
S .Car•
28
15
10
11
8,938
1,561
982
1,855
TOTAL
64
Ky.
Tenn.
TOTAL
5
6
7
1
7
3
3,047
1,504
9
42
8
17
29
158,944
16
$103,557
105
629
341
204
282
8,240
16,690
18,550
4,585
8
5
13,336
456
14
19
935
5,689
33
6,624
3
3
$
2
2
4,139
4,373
2,431
1,232
27
30
19
20
48,065
17
$ 12,175
96
203
316
8,600
32,428
1
1
$
1,155
2,370
26
16
519
41,028
2
$
3,525
42
-
11
-
Gals.of
Spirits
Seized
Gals.of
Mash
Seized
Autos &
Trucks
Seized
3,525
3,300
1,509
955
15,980
51,325
2
3
22
6,825
2,464
67,305
111.
Ind.
Wise.
7
3
4
1,590
895
1,660
697
102
495
TOTAL
14
4,145
La »
Miss.
Texas
12
12
16
TOTAL
Dist
10
2
3
Value of
Property
Seized
Arrests
$
2,078
2,756
14
18
5
$
4,834
32
12,675
15,141
25,284
3
1
2
$
2,894
750
12,406
23
8
12
1,294
53,100
6
$ 16,050
43
670
795
1,020
835
122
157
1,765
3,505
7,125
1
5
8
$
3,664
1,256
2,316
21
32
41
40
2,485
1,114
12,395
14
$
7,236
94
2,000
1
$
16,065
3,750
4
2
475
7
2,335
867
10
4
45
20
Stills
Capacity
Mich*
Ohio
Seized
10
12
TOTAL
Ark.
Kansas
Mo.
Okla.
5
600
12
5
1,550
570
51
2
700
210
TOTAL
22
2,720
963
21,815
7
$
3,684
79
3
1
2
4
130
30
115
105
87
64
16
41
12
725
450
140
450
2
1
$
175
335
14
8
1
4
3
TOTAL
10
380
220
1,765
3
$
510
30
A riz.
Colo •
N.Mex.
Utah
Wy om.
1
7
3
15
179
120
6
73
32
75
677
660
$
2
1
75
645
365
1
11
8
2
270
80
1,000
1
355
2
TOTAL.
13
584
191
2,412
4
$
1,440
22
Calif.
Hawaii
Nevada
1
100
130
17
4,000
$
1,600
1
12
TOTAL
1
100
147
4,000
$
1,600
13
Idaho
M ont.
Ore •
Wash.
1
1
1
2
30
58
100
180
$
93
300
150
1,200
750
3
100
95
10
1,359
3
7
4
7
TOTAL
5
368
121
2,400
3
$
1,564
21
GRAND TOTAL
283
82,980
17,051
603,679
86
$321,605
635
12
13
14
15
Iowa
Minn.
Neh.
N.Dak.
S .Dak.
28
I ^ L M-4,i^
'"'Yofey^j^^,/XAt*r*} ^ ^ ^
of
J
Disposition in U. S. District Courts
Criminal Cases Involving the Treasury
July 1# 1934 to October 1, 19 34
11
-x*
: Total
#
v
•
•
Cases pending July 1, I93I+.....
*,733
Hew cases July 1 — October 1 ...
$.*+79
4,242
Cases disposed July 1 - October lCases pending October 1, 1 9 3 4 -- • 10,970
Increase or decrease cases pending• * 2,237
: Alcohol
t
•
Tax
•
•
• Customs *
•
•
•
•
♦
f
•
•
Harcotics
Secret
Service
3 .2 16
3,680
1,519
5,377
* 2,161
2,367
479
l,l4l
1,681
- 636
2,12?
1,464
1,110
2,477
♦ 35^
1,027
856
472
l,4ll
♦ 384
2,873
68
1,3 3 2
87
649
57
505
**5
3*7
82
b43
Average sentence (days)... ..... .
Average fine (dollars) ........
$ 283
Total sentences (days) ........ •1*075,529
$3to,93U
Total fines (dollars) .........
1*69
$ 369
322,366
$254,133
I65
$ 50
104,660
$ 30,927
749
$ 221
369,868
$ 30,183
881
$240
278,635
$ 29,691
Total convictions............
Per cent convicted ............
^' Wuveuiber 5i "193^" *’
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
November 8, 193>+.
Press Servloe
» » 3 - 53
Disposition in U. S. District Courts
of Criminal Cases Involving the Treasury
July 1, 193** to October 1, 193*+
•
:
:
: Total
Alcohol
Tax
:
•
Customs
:
:
Narcotics
Secret
Service
•
8,733
6,H79
H, 2H 2
10,970
/ 2,237
3 ,2 16
3,6so
1,519
5,377
/ 2 ,16 1
2,367
*+79
ltlkl
1,681
- 686
Total convictions ......
Per cent convicted ....
2,873
1.332
S7
6U9
57
505
Average sentence (days)
Average fine (dollars)
Total sentences (days)
Total fines (dollars) .
6H3
$ 283
1,075,529
$3*+*+,93*+
165
7*+9
$ 221
Cases pending July 1, 193*+..... .
New cases July 1 - October 1 .....
Cases disposed July 1 - October 1..
Cases pending October 1, 193*+*»**..
Increase or decrease cases pending.
68
U 69
$ 369
322,366
$25^,133
$ 50
10 H , 660
$ 30,927
2,123
l,U64.
1 ,1 1 0
2 ,*+77
/ 35*+-
1+5
369,868
$ 30,1S3
1,027
856
U72
l,Ull
/ 32*+
327
82
881
$ 2U0
272,635
$ 29,691
struct!on, then both the contents and the container shall be
destroyed.
In cases where the wines or fermented liquors are
found not potable the instructions require the destruetion both
Of the containers and their contents.
All seized alcoholic beverages will be s o ld subject to the
payment of Internal Bevenue taxes thereon by the purchasers.
It is believed that these instructions will enable the
Government to realize substantial sums from the sale of seized
alcoholic beverages, will reasonably protect the interests of
owners of trademarks and other persons engaged in the liquor
industry, and will conform substantially to the policy of the
Government as indicated by the bottling, labeling and other
regulations recently promulgated.
human consumption or for industrial purposes, the instructions
require that they be destroyed*
Distilled spirits found upon such test fit for sale may
be sold to persons qualified to bottle such spirits under applicable
regulations, or to private individuals for personal use, provided
affidavits are furnished that the spirits are purchased for personal
use and will not be resold*
The purchasers of such distilled spirits must comply with all
laws and regulations relative to the bottling of such spirits and
the labeling and stamping of containers and all other lavs and
regulations applicable to their operations in dealing with such
distilled spirits*
Wines and Fomented Malt Liquors
Seized wines, fomented malt liquors and all alcoholic
beverages other than distilled spirits, when they are found upon
proper test to be potable, may be sold in their original containers*
It is required, however, that if any labels, marks and brands on
the containers do not correctly represent the contents, or bear
any trademark or trade name, they shall be removed as far as may
be practicable without destroying the contents or containers*
If
a trademark or trade name is blown into the bottle or other container^
or otherwise not practicably removable^the contents will be removed,
where practicable, without destnuction, to another appropriate con
tainer, and the original container shall be destroyed, but if the
removal to another container in such case is not practicable without
' ■ " > W , 3 - s' tf
treasury and ju s t ic e departments
The Secretary of the Treasury and the Attorney General today
announced the adoption and issuance of instructions regulating
future sales of distilled spirits, wines and fermented malt liquors
seized and forfeited under the customs laws.
Distilled Spirits
In the case of distilled spirits the liquor will be sold by
the Government in the present containers, but will not be released
or delivered to the purchaser until the spirits have been removed
from these containers to kegs* or barrels of a capacity of 5 winegallons or greater, or similar appropriate containers, under Government supervision.
As in the ease of other alcoholic beverages sold by the Government, sanplee of all forfeited distilled spirits offered for sale
will be taken and analyzed before the sale by Government chemists,
as heretofore, and results of the analyses will be made available to
prospective purchasers.
In addition, after the seized distilled
spirits have been dumped into kegs or barrels, the instructions pro
vide that composite samples of not less than one pint shall be taken
from each keg or barrel and analyzed by a Government chemist in the
manner heretofore employed to deteimine fitness of the spirits for
human consumption.
If analysis shows the spirits are not fit for
TREASURY DEPARTMENT
Washington
FOR M E D I A T E RELEASE,
Friday, November 9, 1934.
Press Service
Uo. 3 - 5 4
The Secretary of the Treasury and the Attorney General today announced the
adoption and issuance of instructions regulating future sales of distilled spirits
wines and fermented malt liquors seized and forfeited under the customs laws.
Distilled Spirits
In the case of distilled spirits the liquor will he said by the Government
in the present containers, but will not be released or delivered to the purchaser
■until the spirits have been removed from these containers to kegs or barrels of a
capacity of 5 wine-gallons or greater, or similar appropriate containers, under
Government supervision.
As in the case of other alcoholic beverages sold by the Government, samples
of all forfeited distilled spirits offered for sale will be taken and analyzed
before the sale by Government chemists, as heretofore, and results of the
analyses will be made available to prospective purchasers.
In addition, after
the seized distilled spirits nave been dumped into kegs or barrels, the instructions provide that composite samples of not less than one pint shall be taken
from each keg or barrel and analyzed by a Government chemist in the manner here
tofore employed to determine fitness of the spirits for human consumption.
If
analysis shows the spirits are not fit for human consumption or for industrial
purposes, the instructions require that they be destroyed.
Distilled spirits found upon such test fit for sale may be sold to persons
qualified to bottle such spirits under applicable regulations, or to private in
dividuals for personal use, provided affidavits are furnished that the spirits
are purchased for personal use and will not be resold.
The purchasers of such distilled spirits must comply with all laws and regu
lations relative to the bottling of such spirits and the labeling and stamping
?
_
of containers and all ofhp-r
n ,,
L'
otner laws ana regulations applicable to their operations
in dealing with such distilled spirits.
Wines and Fermented Malt Liquors
Seized wines, fermented malt liquors and all alcoholic beverages other than
c,is tilled spirits, when they are found upon proper test to be potable, may be
odd m
their original containers.
It is required, however, that if any labels,
marks and brands on the containers do not correctly represent the contents, or
bear any trademark or trade name, they shall be removed as far as may be practi
cable without destroying the contents or containers.
If a trademark or trade
name is blown into the bottle or other container or otherwise not practicably
removable, the contents will be removed, where practicable, without destruction,
to another appropriate container, and the original container shall be destroyed,
but if the removal to another container in such case is not practicable without
destruction, then both the contents and the container shall be destroyed.
In
where the wines or fermented liquors are found not potable the instructions
require the destruction both of the containers and their contents.
All seized alcoholic beverages will be sold.subject to the payment of
Internal Revenue taxes thereon by the purchasers.
It is believed that these instructions will enable the Government to realize
substantial sums from the sale of seized alcoholic beverages, will reasonably
protect the interests of owners of trademarks and other persons engaged in the
liquor industry, and will conform substantially to the policy of the Government
as indicated by tne bottling, labeling and other regulations recently promulgated.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
baturday, November 10, 1934•
11/9/34
Press Service
3 - if*S"
—
Seeretary of the Treasury Morgenthau announced
last evening that the tenders for $75,000,000, or there*
abouts, of 182-day Treasury bills, dated November 14, 1934
and maturing May 15, 1935, which were offered on November
7, were opened at the Federal reserve banks on November 9
1934*
The total amount applied for was $199,237,000, of
idiich $75,045,000 was accepted* The accepted bids ranged
in price from 99*914, equivalent to a rate of about 0*17
percent per annum, to 99*881, equivalent to a rate of
about 0*24 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99*889 and the average rate is about 0*22 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday, November 10, 1934.
11-9-34.
Press Service,
H o . 3 - 55
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury bills, dated November 14, 1934, and maturing May 15,
1935, which were offered on November 7, were opened at the Federal
reserve banks on November 9, 1934*
The total amount applied for. was $199,237,000, of which
$75,045,000 was accepted.
The accepted bids ranged in price from
99.914, equivalent to a rate of about 0.17 per cent per annum, to
99.881, equivalent to.a rate of about 0.24 per cent per annum, on
a bank discount basis.
Only part of the amount bid for at the
latter price was accepted.
The average price of Treasury bills
to be issued is 99.889 and the average rate is about 0.22 per cent
per annum on a bank discount basis.
TREASURY DEPART7
.nrton
m
MOI
ITTiTTi'/l i; ’OR
Novem ber 1 2 , 1934<
PI
R EC EIP T S OF SILV E R BY THE M INTS.
(U nder E x e c u t i v e O rd e r o f Decem ber 2 1 , 1955)
fe e
Week ended Novem ber 9 , 1 9 3 4 :
5 5 0 ,8 9 9 .6 1 f i n e o u n c e s
P h i l a d e l p h i a .......................................
6 5 3 .4 4
"
"
San F r a n c is c o .
7
.8
9
5
.0
0
n
D e n v e r ....................
3 5 9 ,4 2 8 .0 5
n
”
T o t a l f o r week ended N o v . 9 , 1 9 5 4 . . . . .
’o t a l r e c e i p t s th r o u g h N o v . 2 , 1 9 3 4 . . . ............. 1 6 ,9 9 8 ,0 0 0 .0 0
Tot
SIR
SILVER TRANSFERRED TO UNITED STATE.' :
(U n der E x e c u t i v e O r d e r o f A u g u s t 9 , 1934)
fe e
Week ended November 9 , 1 9 3 4 :
P h i l a d e l p h i a ......................................................................................
9 9 ,2 9 7 .0 0 f i n e o u n c e s
New Y o r k ...................................................................................... ............... 3 ,5 3 3 ,8 7 7 .0 0
"
" .
7
.5
6
8
.0
0
|
|
S a n i- r a n c io c o .
20
121.00
D e n v e r . p ............. ..
6 6 3 .0 0
"
"
New O r l e a n s . . .
,
|
5.715.00
Seattle
Total for week ended Nov. 9, 1934.... 5,665,239.00
Total receipts through Nov. 9, 1954........ 108,891,449.00
"
Tot
"
HE(
R ECEIPTS OF GOLD BY THE MINTS AND ASSAY O F F IC E S :
New
Secondary
Imports
Week ended November 9, 1954:
Philadelphif
-
5,528,100.00
56,617.02
43,099.00
61,624.82
—— —
15,689,440.84
§an F r a n c is c o ,
D en ver
New O r le a n s ,
S e a t t l e ••••»•••••••••••••••
$
294,008.06
965,100.00
105,311.29
52,502.00
73,677.79
41,603.01
$1,550,002.15
Domesti® fee
$
cm
38, of
l,452,e|
870,sj
4
265,5
$2,628,51
RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(U nder S e c r e t a r y ' s O r d e r o f D ecem ber 2 8 , 1933)
Received by Federal Reserve Banks:
Week ended November 7,
Received previously.
Total to November 7,
Received by Treasurer1s Office:
Week ended November 7 ....... .
Received previously...........
Total to Nor ember 7 ..... .
NOTE:
Gold Coin
51,915.26
29,527,529.62
$29,359,444.88
Gold Certificates
1
480,610#00
75,444,440.00_____
$75,925,050.00
i
$
—
256,602.00
256,602.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
7,600.00
1.829,600.00
$ 1,837,200.00
GO]
He i
fe i
Re,
He
We
Re
HO
TREASURY DEPARTMENT
Washington
November 12, 1934.
MEMORANDUM FOR THE PRESS:
pCEIPTS OE SILVER BY THE MUTTS,.
! (Under Executive Order of December 21, 1933)
Week ended November 9, 1934:
Philadelphia.....'..... m ---- ...........
350,899.61 fine ounces
San Francisco.......... ................
633.44
Denve ...... '..... .
*•.... .•.•.., ••**.-•
7 ,895.00
Total for week ended Nov. 9, 1934......
359,428.05
H
"
Total receipts through Nov. 9, 1934........ 16,998,000.00
,f
SILVER TRANSFERRED TO UNITED STATES;
(Under Executive Order of August' 9, 1934)
leek ended November 9., 1934:
99,297.00 fine ounces
tt
it
3,533^877.00
it
ii
r i TTr*53 *n r* i
j
. . . . . . « * . . m* » « • •
7,568.00
it
ti
T l p m r p T*
•• . .
■. . . . . . . . . . . . . . . ■ . . a
20^121.00
it
ii
T\Tp w
O tpl p a n s ' . . .
. . . . . . . . . . . . . . » . . . . ., f
663.00
ii
ti
3,713.00
ii
ti
3,665,239.00
Total for week ended Nov. 9, 1934. . . .
it
it
.
‘
108,891,449.00
Total receipts through Nov. 9, 1934.....
WVi i 1 a r l p l Ti "h i a .............................
Wp
w
Y n r V
. . .
. .................................. ■ . > ■
.................................. ................................................................................. .....
. . .
RECEIPTS 6F GOLD 3Y THE MINTS AND ASSAY OFFICES:
Week ended November 9., 1934:
Philadelphia................
New York......| ......................
San Francisco• •.. ••".*.
.'.•.. ••
Denver....................... ...•
New Orleans. ••.. »»■•.•»■»...........*
S e a t t l e ^ »v»». •'«.........
Total for week ended'Nov*9 il934..
Imports
$
----------- .
5,528,100.00
56,517.02
43,099.00
61,524.82
Secondary
$ 294,008.06
963,100.00
105,311.29
52,302.00
73,577.79
41,603.^01
$5,689,440.84
$1,530,002.15
New
Domestic
$
592.51
38,600.00
1,452,925,85
870,396,00
473.45
265,582,07
$2,628,569,88
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended November 7............ •
Received previously.
Total to November 7............
_____ Gold Coin_______G-old Certificates
$
31,915.26
$
480,610.00
29,327,529 .62_______ 75,444,440?Q0
$29,359,444.88
$75,925,050.00
Received by Treasurer's Office:
Week ended November 7,...........•
Received p r e v i o u s l y •
Total to November 7.............
$
$
____256,602.00
$
256,602.00
ROTE:
Gold bars deposited with the New Yjrk Assay Office
to the amount of $200,572.69 previously reported.
?,600.00
1,829,600.00
$ 1,837,200.00
Columbia ©mbersttp
tit t b f € t t p o f J l f i t t P i i r k
SCHOOL OF LAW
2jrd October 195^
Dear Mr. Morgenthaut
Since I have now substsntially completed my work on
our report on the administration of the British Income Tax,
I desire to tender my resignation from my position as
Special Assistant to you.
I had hoped to be able to continue my work for you
this winter upon the Treasury’s legislative program.
Unfortunately the pressure of my work here will not permit
me to be in Washington for the necessary conferences and
hearings throughout the fall and winter.
I shall, of
course, be glad to respond to any calls you may wish to
make upon me for advice or for further research.
In conclusion, may I express my pleasure and satis
faction in the opportunity I have had to work with you
during the past year, and my warm interest in the success
ful completion of the revenue program.
Faithfully yours,
Roswell Magill
Hon. Henry Morgenthau, Jr.,
Secretary of the Treasury,
Washington, D. C.
THE S E C R E T A R Y O F THE T R E A S U R Y
WASHINGTO N
October 25, 1954<
Dr. Roswell Magill,
School of Law, Columbia University,
New York, N.\Y.
My dear Dr.
Ills
I have received youlr letter of October 23rd, in which
you say that since you havje substantially completed work on
your report on the ao&Lnisjtration of the British income tax
you desire to tender your resignation from your position as
Special Assistant to theVSfecretary of the Treasury.
\I
I know of your situation through our frequent con
versations and therefore If accept your resignation.
I do it,
as you know, with the utmost \eluctance.
It is impossible
for me to tell you in a lejbterXhow greatly I value your ad
vice and how deeply I appreciate the magnificent service you
have rendered to the Treasury anak the nation in the past year
through your brilliant work on taAlegislation and the other
tasks that I have put up tb you.
\
I am happy a
t
h
a
t
I \ a y feel warranted in
calling on you from time t| time for special tasks which will
m a X
X
.-vma
X I T'T -s irt *X* m
i X*
X*
X - - wj "%-s r^S 1
“ To n X
1 ri
the other
"work Xthat
you
are
not
too
greatly
interfere ‘J r frith
\
obliged to do.
Sincerely yours,
Secretary.
/
Oetaber 26> 1934.
Dr# Boswell Magill*
S c h o o l o f L e w , Colum bia; U n i v e r s i t y ,
le w Xorkp l o l
l y d e a r Dr# f c g i l l *
I h&V'e r e c e i v e d y a w l e t t e r o f O c to b e r I S r c , i s w h ich
you s a y that s i n c e y o u h a v e s u b s t e a t i & l l y e o s p le t e d worja. cm
y o u r r e p o r t on t h e a d m i n i s t r a t i o n o f th e B r i t i s h incom e t a x ym
d e s ir e ' t o t e n d e r y o u r r e s i g n a t i o n fro m y o u r p o s i t i o n a s S p e c i e .
A s s i s t a n t t o th e S e c r e t a r y ox t h e fr e & s n r y #
I know o f s o u r s i t u a t i o n th r o u g h o u r f r e q u e n t c o n v e r s e -
you*
I as happy that I say feel warranted in colling on you
from tine to time for special tasks sfeicb will^not too greatly
interfere with, the other work that you are obliged to do*
S in c e r e ly y o u rs ,
S e c re ta ry *
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
November 12, 1954.
Press Service
No. 3
Secretary Morgenthau today announced the resignation of
Dr* Roswell Magill of Columbia University as Special Assistant
to the Secretary of the Treasury in taxation matters.
It was
announced that the work of cooperation with Congress in tax
legislation will continue to be carried on by the staffs of the
Treasury and the Bureau of Internal Revenue under the direction
of Robert H. Jackson, Assistant General Counsel for the Bureau
of Internal Revenue and under the general supervision of Herman
r
Oliphant, General Counsel of the Treasury Department.
The Secretary made public the following exchange of
correspondence with Dr. Magill:
TREASURY DEPARTMENT
Washington
EOR IIHIEDIATE RELEASE
November 12, 1934,
Press Service
No. 3 - 5 6
Secretary Morgenthau today announced the resignation of Dr.
Roswell Magill of Columbia University as Special Assistant to the
Secretary of the Treasury in taxation matters.
It was announced
that the work of cooperation with Congress in tax legislation will
continue to he carried on hy the staffs of the Treasury and the
Bureau of Internal Revenue under the direction of Robert H. Jackson,
Assistant General Counsel for the Bureau of Internal Revenue, and
under the general supervision of Herman Oliphant, General Counsel
of the Treasury Department •
The Secretary made public the following exchange of correspondence
with Dr. Magill:
- 3 -
October 26, 1934.
Dr. Roswell Magill,
School of Law, Columbia University,
Hew York, H. Y.
My dear Dr. Magi11:
I have received your letter of October 23rd, in which
you say that since you have substantially completed work on
your report on the administration of the British income tax you
desire to tender your resignation from your position as Special
Assistant to the Secretary of the Treasury.
X know of your situation through our frequent conversa
tions and therefore I accept your resignation.
I do it, as you
know, with the utmost reluctance.
It is impossible for me to
tell you in a letter how groatly I value your advice and how deeply I appreciate the magnificent service you have rendered to the
Treasury and the nation in the past year through your brilliant
work on tax legislation and the other tasks that I have put up to
you*
I am happy that I may feel warranted in calling on you
from time to time for special tasks which will not too greatly
interfere with the other work that you are obliged to do.
Sincerely yours,
(Signed)
Henry Morgenthali, Jr.,
Secretary.
-4-
yyW Yyv
Location
Name of bank
Date
Pennsylvania
Bedford
Marietta
Reading
Reading
Reading
Shenandoah
Shenandoah
First N. B. & Tr* Co.
Exchange N. B.
Farmers N. B. & T r . Co.
Reading N. B. & T r . Co.
Penn N. B. & Tr. Co.
Citizens N. B. of
First N. B. of
10/17/34
10/4/34
10/5/34
10/5/34
10/5/34
10/23/34
10/23/34
I 379,000.
500,000.
6,088,000.
3,241,000.
6 ,204 ,000 .
1,399,000.
1.891.000.
20,202,000.
South Dakota
Garretson
First N. B.
10/30/34
206,000.
Texas
San Antonio
West
Commercial N. B.
National Bank of
10/16/34
10/9/34
2,306,000.
151.000.
2,457,000.
West Virginia
Wellsburg
Wellsburg N. B.
10/28/34
592,000.
GRAND TOTALS
Frozen Deposits
26 Banks|31,493,000.
-3-
x r a
Date
Fr o zen Deposits
Location
Name of Bank
Alabama
Jacksonville
First N. B.
10 / 15 / 34.
Arkansas
Dardanelle
First N. B.
10 / 5/34
Illinois
Percy
First N. B.
10 / 19/34
254->000.
Citizens N. B.
Farmers & Merchants
N. B.
10 / 23/34
196, 000.
10/ 20/34
172.000.
368 .000.
Kansas
Lyndon
Oberlin
First N. B.
Oberlin p. B.
10 / 19/34
10 / 20/34
94->000.
227.000.
Michigan
Manistique
First N. B.
i o / u /34
265, 000.
Nebraska
lymore
First N. B.
10 / 15/34
161 , 000 .
New Jersey
Fort Lee
Pleasantville
First N. B.
First N. B.
10/ 20/34
10 / 20/34
1 192 000
970.000.
2 162 000
New York
Ha mmond
New York
Citizens N. B.
Ozone Park N. B.
10 / 15/34
10 / 22/34
381 , 000 .
1.294.000.
1.675.000.
North Carolina
Gastonia
First N. B.
10/20/34
763,000.
National Bank of
Commerce
10/20/34
Indiana
Greenwood
Rensselaer
Ohio
Lorain
45,000.
321. 000.
,
,
.
, , .
,
,
1 906 000
.
-
2
-
been reopened under old or new charters or absorbed by going banks;
30, with deposits of $11,20-4,000, have quit or withdrawn from the
national system, and 297, with frozen deposits of $153,336,000, have
been placed in the hands of Receivers.
Of the 297 placed in re
ceivership, 10 banks, with frozen deposits of $4,754,000, now have
plans approved for reorganizations.
The 15 national banks which remained unlicensed on October 31,
1934, were divided as follows:
13 of these banks, with frozen deposits
of $12,683,000, had approved plans of reorganization; the other 2 banks,
with $571,000 frozen deposits, had disapproved plans of reorganization.
During October, 2 unlicensed national banks received approvals
for their reorganization plans from the Comptroller of the Currency---the
Farmers & Merchants National Bank, Rensselaer, Indiana, with $172,000
frozen deposits, and the Mount Gilead National Bank, Mount Gilead,
Ohio, with $700,000 frozen deposits.
The national banks which received licenses during the month of
October, 1934, are listed below:
— _ * V o ft
'
TREASURY DEPARTMENT
Washington
R E M I S E D TO £££
OFM
U - \> . * > 4 *
During the month of October, 26 national banks, with aggregate frozen
deposits of $31>A93>000, were licensed and opened or reopened, J. F. T.
0*Connor, Comptroller of the Currency, announced today.
Of these, 19
institutions, with deposits of $26,088,000, were unlicensed banks in the
hands of Conservators; while 7, with deposits of $5,405,000, were insolvent
banks in the hands of Receivers.
The licensing of 26 banks last month brought the number opened or
reopened during the first ten months of 1934- to 403 national banks, with
$349*809*000 frozen deposits, as shown in the table below:
Month
January
February
March
:April
May
Junp
July
August
September
October
T o t a l s
No. of National
Banks Licensed
69
63
55
36
50
40
29
20
15
26
403
Frozen
Deposits
$ 68,966,000
62,953,000
34,739,000
31,893,000
37,4^8,000
33,777,000
24,472,000
9,023,000
15,005,000
31,493,000
$349,809,000
By the close of October, the number of unlicensed national banks in
the United States had been reduced to 1$.
Of the 1,417 banks (including
10 state banks and trust companies in the District of Columbia which come
directly under the Comptroller^ jurisdiction) which remained unlicensed
on March 16, 1933---the first day after the termination of the general
banking holiday---1,075 banks, with $1,792,899,000 frozen deposits, have
TREASURY DEPARTMENT
Washington
RELEASED TO MORNING- NEWSPAPERS,
OP THURSDAY, liovemher 15.
11-12-34.
Press Service
No. 3 - 57
Diliing the montn of October, 26 national hanks, with aggregate frozen de
posits of 631,493,000, were licensed and opened or reopened, J. E. T. O ’Connor,
Comptroller of the Currency, announced today.
Of these, 19 institutions, with
deposits of 026,083,000, were unlicensed hanks in the hands of Conservators;
while 7, with deposits of $5,405,000, were insolvent hanks in the hands of
Receivers.
The licensing of 26 hanks last month brought the number opened or reopened
during the first ten months of 1934 to 403 national hanks, with $349,809,000
frozen deposits, as shown in the table below;
Month
No. of National
Banks Licensed
January
February
March
April
May
June
July
August
September
October
T o t a l s
69
63
55
36
50
40
29
Frozen
Deposits
15
25
$ 68,966,000
62.953.000
34.739.000
31.893.000
37.488.000
33.777.000
24.472.000
9,023,000
15.005.000
31.493.000
403
$349,809,000
20
By the close of October, the number of unlicensed national banks in the
United States had been reduced to 15.
Of the 1,417 banks (including 10 state
banks and trust companies in the District of Columbia which come directly Under
the Comptroller’s jurisdiction) which remained unlicensed on March 16, 1933___
tne first dajr after the termination of the general banking holiday---1,075
banks, with 8 1 j?U2,899,000 frozen deposits, have been reopened under old or new
-
?
charters or absorbed, "by going banks; 30, with deposits of $11,204,000, have
quit or withdrawn from the national system, and 297, with frozen deposits of
$153,336,000, have been placed in the hands of Receivers.
Of the 297 placed
in receivership, 10 banks, with frozen deposits of $4,754,000, now have plans
approved for reorganizations.
The 15 national banks which remained unlicensed on October 31, 1934, were
divided as follows:
13 of these banks, with frozen deposits of $12,683,000,
had approved plans of reorganization; the other 2.banks, with $571,000 frozen
deposits, had disapproved plans of reorganization.
During October, 2 unlicensed national banks received approvals for their
reorganization plans from the Comptroller of the Currency---the Farmers &
Merchants Rational Bank, Rensselaer, Indiana, with $172,000 frozen deposits,
and the Mount Gilead Rational Bank, Mount Gilead, Ohio, with $700,000 frozen
deposits.
The national banks which received licenses during the month of October,
1934, arc listed below:
Date
Frozen Deposits
Location
Rame of Bank
Alabama
Jacksonville
First R. B.
10/15/34
Arkansas
Dardanelle
First R. B.
10/5/34
Illinois
Percy
First R. B.
10/19/34
254,000.
Citizens R.B.
Farmers & Merchants
R. B.
10/23/34
196,000
10/20/34
172.000.
368.000.
10 /19 /3 4
10/20/34
94,000.
227,000.
Indiana
Greenwood
Rensselaer
Kansas
Lyndon
Oberlin
First R. B.
.Oberlin R. B.
$
116,000.
45,000.
321,000
Location
Hame of Bank
Date
Michigan
Manistique
First H. B.
10/11/34
Nebraska
Wymore
First H. B.
10/15/34
161,000.
Hew Jersey
Port Lee
Pleasantville
First H. B.
First H. B.
10/20/34
10/20/34
1.192.000.
'970,000.
2.162.000.
Hew York
Hammond
Hew York
Citizens H. B.
Ozone Park H. B.
10/15/34
10/22/34
381,000.
1,294,000.
1,675,000
Horth Carolina
Gastonia
First IT. 3.
10/20/34
763,000.
Hational Bank of
Commerce
10/20/34
1,906,000.
Pennsylvania
Bedford
Marietta
Reading
Reading
Reading
Shenandoah
Shenandoah
First ft 3. & Tr, Co.
Exchange IT. B.
Farmers H, 3, & T-r. Co.
Reading H. 3. & Tr. Co.
Penn IT. 3. & Tr. Co.
Citizens H. B. of
First H. 3. of
10/17/34
IO/4 /3410/5/34
10/5/34
10/5/34
10/23/34
10/23/34
879.000.
500.000.
6,088,000.
3.241.000.
6.204.000.
1.399.000.
1.891.000.
.20,202,000.
South Dakota
Garretson
First H. B.
10/30/34
206,000.
Texas
San Antonio
West
Commercial H. B.
ITational Bank of
10/16/34
10/9/34
2,306,0001
151,000.
2,457,000.
West Virginia
Wellshurg
Wellshurg H. 3.
10/28/34
592,000.
Ohio
Lorain
GBAUD 'TOTALS
26 Banks
Frozen Deposits
$
265,000.
$31,493,000
TREASURY DEPARTMENT
Washington
for
*M & T L f r a y t
j m s a u x s *'**
November 3p, 1954,
Press Service
No.
During the month of October 1934r 124 cases involving the
failure of passengers to declare merchandise acquired abroad in
violation of Section 497 of the Tariff Act, were acted upon by the
Bureau of Customs, it was announced today.
The following civil
liability was incurred by the offenders involved:
Forfeiture value of merchandise
Personal penalties
Total civil liability
$7,101*77
7 »101,77
$14,203**54
The above compilation includes only those cases which were
acted upon in the Bureau during October and does not include cases
which might have arisen
in the field service during the month
and which have not yet been reported to the Bureau*
TREASURY DEPARTMENT
Washington
FOR AFTERNOON NEWSPAPERS, ‘
TUESDAY, NOVEMBER 13, 1934.
Press Service
No. 3 - 58
Daring the month of October 1934, 124 cases involving the failure
of passengers to declare merchandise acquired abroad in violation of
Section 497 of the Tariff Act, were acted upon by the Bureau of Customs',
it was announced today.
The following civil liability was incurred by
the offenders involved:
Forfeiture value of merchandise
Personal penalties
Total civil liability
$ 7,101.77
7,101.77
$14,203.54
The above compilation includes only those cases which were acted
upon in the Bureau during October and does not include cases which might
have arisen in the field service during the month and which have not yet
been reported to the Bureau.
- 3 -
The following is a list of the unlicensed national banks in the
State of Michigan which have been declared insolvent and placed in
the hands of Receivers}showing the percentage of unsecured deposits
subsequently released;
CITY
NAME OF BANK
Almont
Avoca
Brighton
Bronson
Hart
Hartford
Manistee
Millington
Paw Paw
Romeo
First N. B.
First N. B.
First N. B.
Peoples N. B*
First N. B.
Olney N. BFirst N. B.
Millington N. B*
First N. B.
Citizens N. B.
TOTALS
—
TOTAL
DEPOSITS
$ 165,000
227,000
138,000
238,000
337.000
368.000
554.000
81,000
478.000
518.000
10 B a n k s ------ 3 \ 3,104,000
DATE OF
RECEIVER'S
APPOINT
MEN!
10/9/33
10/2^/33
10/9/33
5/9/34
9/14/33
9/26/33
12/12/33
10/25/33
12/28/33
10/12/33
DIVIDENDS
SUBSEQUENTLY
PAID BY
RECEIVERS
16%
21$
8055
4055
28%
25%
5055
82$
-
CITY
NAME OF BANK
FROZEN
DEPOSITS
INVOLVED
Nat1! Bk. of Commerce $ 64-7,000
Adrian
Battle Creek,Old Merchants N. B.
7,911,000
& Tr. Co.
Benton Harbor, Farmers & Merchants
N. B. & Tr. Co. 2,4-61,000
2,301,000
Birmingham First N. B.
299,000
Caspian
Caspian N. B.
569,000
Coldwater N. B.
Coldwater
4.52,000
Crystal Falls,Crystal Falls N. B.
738,000
Crystal Falls,Iron County N. B.
373,360,000
First N. B.
Detroit
Guardian N. B. of
Detroit
103,103,000
Commerce
>411,000
Eaton Rapids,First N. B;
227,000
First N. B.
Evart
First N. B. & Tr. Co. 6,867,000
Flint
34-7,000
First N. B.
Gladstone
11,080,000
Grand Rapids,Grand Rapids N. B.
952,000
Superior N. B.
Hancock
798,000
Hastings N. B.
Hastings
>468,000
Hermansville,First N. B.
760,000
Hillsdale
First N. B.
405,000
First N. B.
Howell
583,000
First N. B.
Hubbell
1 ,135,000
Nat*l Bank of
Ionia
Iron
1,856,000
Mountain First N. B.
846,000
Iron River First N. B.
2,067,000
Ishpeming
Miners N. B*
Union & Peoples N. B. 7,450,000
Jackson
556,000
Lake Linden First N. B.
12,552,000
Capital N. B. of
Lansing
73,000
First N. B.
Lawton
898,000
First N. B. & Tr. Co.
Ludington
315,000
Manistique First N. B. in
847,000
First N. B.
Marshall
2,277,000
First N. B.
Monroe
The City N. B. & Tr.C6.1,221,000
Niles
1,057,000
First
N. B.
Norway
271,000
Ontonagon
First N. B.
6
,
154,000
First N. B. at
Pontiac
766,000
First N. B.
Richmond
1,474,000
First N. B.
Rochester
601,000
St. Ignace First N. B.
648,000
First N. B.
Utica
537,000
First N. B.
Wakefield
667,000
First N. B.
Wyandotte
2,320,000
First N. B.
Ypsilanti
T O T A L S ---44 Banks —
-! 566,327,000
DATE OF
REORGAN
IZATION
u / 1 /3 3
$ UNSECURED
DEPOSITS PAID
THROUGH REOR
GANIZATION
2
DIVIDENDS
SUBSEQUENT
PAID BY
RECEIVERS
40$
6/9/34-
65$
—
11/14/33
6/15/33
4/12/34
4/21/34
9/24/34
9/24/34
4/8/33
50$
—
4/8/33
2/8/34
4/6/33
1/30/34
4/19/34
8/23/33
9/1/33
12/2/33
3/17/33
3/12/34
5/12/34
11/6/33
6/12/34
9/11/33
4/12/34
1/6/34
7/31/33
10/23/33
2/26/34
5/12/33
2/19/34
10/11/34
2/17/34
11/18/33
8/18/33
1/27/34
1/6/34
7/18/33
10/4/33
11/27/33
10/7/33
2/23/34
6/7/33
12/14/33
10/17/33
-
20$
50%
5056
50%
50$
40$
40$
40$
100$
50$
70$
50$
70$
60$
100$
1556
50$
70$
45$
5$
—
—
—
—
10$
28$
—
—
—
—
10$
—
—
—
—
—
—
—
60$
5056
60$
—
35$
60$
40$
100$
35$
60$
50$
50$
55$
64$
50$
40$
60$
25$
55$
50$
80$
30$
30$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
5$
—
TREASURY DEPARTMENT
Washington
J.
F. T. 0*Connor, Comptroller of the Currency, has issued a
summary reflecting the status of all national hanks in the State of
Michigan which failed to reopen at the termination of the hanking
holiday, March 15, 1933• There were fifty-three (53) hanks involv
ing frozen deposits of $561,520,000 which failed to receive licenses
following the holiday and one hank with frozen deposits of $7,911>000
had its license revoked^bringing the total unlicensed national hanks
to fifty-four (54.) with frozen deposits of #5&9>43^,000•
By October
11, 1934-, all of the unlicensed national hanks had
been disposed of as follows: ten (10) with frozen deposits of |8,604,
000 were reopened under old charters; thirty-four (34) with frozen
deposits of #557,723,000 were opened under new charters or absorbed
by going banks, and ten (10) with deposits of $3 ,104,000 were declared
insolvent and placed in charge of Receivers*
The follov/ing is a list of those unlicensed national banks which
have been reorganized along the lines stated above, showing the percentage of the unsecured deposits released when reorganization was
effected as well as the percentage released subsequently by Receivers
in cases where a portion of the assets of the old banks were placed
in active liquidation* Secured deposits were released 100$ in all
cases of reorganization*
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS
MONDAY, NOVEMBER 19, 1934.
11-13-34.
Press Service
J. E-. T. O ’Connor, Comptroller of the Currency, has issued a summary re
flecting the status of all national banks in the State of Michigan which failed
to reopen at the termination of the banking holiday, March 15, 1933:.
There
were fifty-three (53) banks involving frozen deposits of $561,520,000 which
failed to receive licenses following the holiday and one bank with frozen de
posits of $7,911,000 had its license revoked, bringing the total unlicensed
national banks to fifty-four (54) with frozen deposits of $569,431,000'.
3y October 11, 1934, all of the unlicensed national banks had been disposed
of as follows: ten (10) with frozen deposits of $8,504,000 were reopened under
old charters.; thirty-four (34) with frozen deposits of $557,723,000 were opened
under new charters or absorbed by going banks, and ten (10) with deposits of
$3,104,000 were declared insolvent and placed in charge of Receivers;
The following is a list of those unlicensed national banks which have been
reorganized along the lines stated above, showing the percentage of the un
secured deposits released Yfhen reorganization was effected as well as the per
centage released subsequently by Receivers in cases where a portion of the asset
of the old banks was
placed in active liquidation*
released 100$ in all cases of reorganization*
Secured deposits were
~ 2 ~
FROZEF
DEPOSITS
•INVOLVED
CITY
FAME OF SAFE
Adrian
Battle Creek
$
647,000
Fat1'! 3k.of Commerce
Old Merchants H. B.
7,911,000
& Tr. Co.
Farmers & Merchants
2,461,000
F. B. & Tr. Co.
2,301,000
First F. B.
299,000
Caspian F. B.
569,000
Coldwater F. B.
452,000
Crystal Falls F. 3.
738,000
Iron County F. B.
373,360,000
First F. B.
Guardian F .B. of
108,103,000
Commerce
411,000
First F. B.
227,000
First F. 3.
6,867,000
First F.3. & Tr. Co.
347,000
First F. B.
11,080,000
Grand Rapids F.B.
952,000
Superior F. B.
798,000
Hastings F. B.
468,000
First F. B.
760,000
First F. B.
405,000
First U. B.
583,000
First F. 3.
1,135,000
Fat*l Bank of
1,856,000
First F. B.
846,000
First F. B.
2,067,000
Miners F. B.
7,450,000
Union ,& Peoples F.B.
556,000
First F. B.
12,552,000
Capital F. B. of
73,000
First F. B.
898,000
First F. B. & Tr. Co.
315,000
First F. B. in
847,000
First F. B.
2,277,000
First F. B.
1,221,000
The City F.B. & Tr.Co.
1,057,000'
First F. B.
271,000
First F. B.
6,154,000
First F. B. at
766,000
First F. B.
1,474,000
First F. B.
601,000
First F. B.
648,000
First F. B.
537,000
First F. B.
667,000
First F. B.
2,320,000
First F. B.
Benton Harbor
Birmingham
Caspian
Coldwater
Crystal Falls
Crystal Falls
Detroit
Detroit
Eaton Rapids
Evart
Flint
Gladstone
Grand Rapids
Hancock
Hastings
Hermansville
Hillsdale
Howell
Hubhell
Ionia'
Iron Mountain
Iron River
Ishpeming
Jackson
Lake Linden
Lansing
Lawton
Ludington
Manistique
Marshall
Monroe
Niles
Norway
Ontonagon
Pontiac
Richmond
Rochester
St. Ignace
Utica
Wakefield
Wyandotte
Ypsilanti
TOTALS -—
44 B a n k s ----- ■----- $566,327,000
DIVIDENDS
$ UNSECURED
DATE OF DEPOSITS PAID SUBSEQUENT
REORGAF- THROUGH REOR- LY PAID B!
RECEIVERS
IZATIOF GAFIZATIOF
ll/l/33
40$
__
6/9/34
65$
— —
11/14/33
6/15/33
4/12/34
4/21/34
9/24/34
9/24/34
4/8/33
50$
20$
50$
50$
50$
50$
40$
—_—
5$
4/8/33
2/8/34
4/6/33
1/30/34
4/19/34
8/23/33
9/1/33
12/2/33
3 /17 /3 3
3/12/34
5/12/34
11/6/33
6/12/34
9/11/33
4/12/34
1/6/34
7/31/33
10/23/33
2/26/34
5/12/33
2/19/34
lO/H/34
2/17/34
ll/lB/33
8/18/33
1/27/34
1/6/34
7/18/33
10/4/33
11/27/33
10/7/33
2/23/34
6/7/33
12/14/33
10/17/33
40$
40$
100$
50$
70$
50$
70$
60$
100$
15$
50$
70$
45$
60$
50$
60$
35$
60$
40$
100$
35$
60$
50$
50$
55$
64$
50$
40$
60$
25$
55$
50$
80$
30$
30$ •
—
—
,-—
10$
28$
—
—
—
—
10$
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
•-—
—
—
—
—
—
—
5$
—
- 3 ~
The following is a list of. the ■unlicensed, national hanks in the
State of Michigan which have been declared insolvent and placed in
the hands of Receivers, showing the percentage of unsecured deposits
subsequently released:
TOTAL
DEPOSITS
CITY
HAMS OS BANK
Almont
Avoca
Brighton
Bronson
Hart
Hartford
Manistee
Millington
Paw Paw
Romeo
$
Sirst IT. B.
Sirst IT. B.
Sirst IT. 3.
Peoples IT. B.
Sirst IT. B.
Olney IT. B .
Sirst IT. B.
Millington IT. B.
Sirst IT. B.
Citizens IT. B.
TOTALS — - 10 B a n k s ---
165,000
227,000
138,000
238,000
337,000
368,000
554,000
81,000
478,000
518,000
$ 3,104,000
DATS OS
RECEIVER1S
APPOINT
MENT
10/9/33
10/24/33
10/9/33
5/9/34
9/14/33
9/26/33
1 2 /12/33
10/25/33
12/28/33
10/12/33
DIVIDENDS
SUBSEQUENTLY
PAID BY
RECEIVERS
45$0
2 4 $
8 0 $
—
40$
2 8 $
—
25$
5 0 $
5 2 $
TREASURY DEPARTMENT
Washington
Press Service
Immediate Release,
Thursday, November 15, 1954.
Ho. 5 - ? %
X
Transactions in purchases fffr sales of Government securities for
A
Treasury investment accounts for the calendar month of October, 1954,
resulted in net sales m
/9
„. t-A
*
of $16,703,500,
treasury department
Washington
Immediate Release,
Thursday, November 15, 1934%
Press Service
No, 3~5§
Transactions in market purchases and sales of
Government securities for Treasury investment accounts
for the calendar month of October, 1934, resulted in net
sales.of $16,703,500, Secretary Morgenthau announced
today.
§
j j J v r W
. 3-t
J/i* * I
For Treasury release.
Miss Josephine Roche, who has been appointed by the
President to fill the existing vacancy in the position of
Assistant Secretary of the Treasury, will have jurisdiction over
the Public Health Service, Secretary Morgenthau announced today.
In addition she will act as the Secretary’s representative in
problems connected with the welfare of Treasury employees, in
which Secretary Morgenthau is greatly interested.
She will
make studies of the working conditions of the 56,000 Treasury
employees, of whom approximately 15,000 are departmental em
ployees in Washington, and will consider problems that may be
revealed in connection with the welfare of employees individually
and collectively.
Other administrative duties will be assigned to Assistant
Secretary L. W. Robert, Jr., who has heretofore had supervision
over the Public Health Service.
Assistant Secretary Robert now
has under his direction the Bureau of Engraving and Printing and
the Bureau of the Mint.
t)
TREASURY DEPARTMENT
Washington
POP IMMEDIATE RELEASE,
Thursday, November 15, 1934.
Press Service
Ho. 3 - 6 0
Miss Josephine Roche, who lias been appointed by the President
to fill the existing vacancy in the position of Assistant Secretary
of the Treasury, will have jurisdiction over the Public Health
Service, Secretary Horgenthau announced today.
In addition she
7/ill act as the Secretary’s representative in problems connected
with the welfare of Treasury employees, in which Secretary Horgenthau
is greatly interested.
She will make studies of the working conditions
of the 56,000 Treasury employees, of whom approximately 15,000 are de
partmental employees in Washington, and will consider problems that
may be revealed in connection with the welfare of emploj^ees individually
and collectively.
Other administrative duties will be assigned to Assistant Secretary
L. W. Robert, Jr., who lias heretofore had supervision over the Public
Health Service.
Assistant Secretary Robert now has under his direction
the Bureau of Engraving and Printing and the Bureau of the Mint.
tS
h
f
^ ( U ,
—l
> U 3 ^ J ^
l(*. H
Hereafter books, maps, music, engravings, photographs,
etchings, lithographic prints and charts which have been
&st*
pruntad.more than twenty years at/the time of .importation
*
A*Vlr
/fa ^ ^ j it4 h i
^ w i l l be exempt'from 4 he manning requirement of'Section 304
of the Tariff Act, the Bureau of Customs announces.
The country of origin need no longer be shown on these
their
articlesor/containerjfunder an amendment to Article 513 (a)
I
(4) of the Customs Regulations of 1931 approved by the
Secretary of the Treasury^ October 29, 1934.
The effect of
this amendment is to exempt the aforementioned articles from
the marking requirement without the necessity of special
1/0
action by the Secretary, such as usually taken in the case
of any article the marking of which is impractical..
lasllpI ggjfjgg_
m
<J~7
I
€ ■
TREASURY DEPARTMENT
Washington
IMMEDIATE RELEASE,
Friday, November 16, 1934,
Press Service
No, 3-61
Hereafter hooks, maps, music, engravings, photographs, etchings,
lithographic prints and charts which have been printed more than twenty
years a„t the time of importation, and which are free of duty under
paragraph 1629 ‘of the Tariff Act, will he exempt from the marking
requirements of Section 304 of the Tariff Act, the Bureau of Customs
announces.
The country of origin need no longer he shown on these articles
or their containers under an amendment to Article 513 (a) (4) of the
Customs Regulations of 1931 approved hy the Secretary of the Treasury,
October 29, 1934.
The effect of this amendment is to exempt the
aforementioned articles from the marking requirement without the
necessity of special action hy the Secretary, such as is usually taken in
the case of any article the marking of which is impractical.
(Note to Correspondents 7 The above will he of particular interest to
hook review departments).
The following tables present a detailed statement of
imports of distilled liquors and wines and duties collected
thereon:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
November 12, 1954*
Press Service
No* 3 -
Imports of liquor during October, according to preliminary
figures just compiled, aggregated 656,696 proof gallons, an increase
of 267,789 gallons for the month of September, 1934, it was announced
by the Bureau of Customs today*
For the fourth consecutive month a greater amount of imported
distilled liquors entered into consumption than was actually received.
Dhringbctober 722,643 proof gallons of distilled liquor paid duty and
passed into the hands of the ultimate consumer*
At the end of October there remained in Customs bonded ware
houses 4,211,953 proof gallons of distilled liquors, or approximately
42$ of the total amount of distilled liquor imported during the ten
months since Repeal (10,017,607 proof gallons)*
Imports of sparkling wines (liquid gallons) amounted to 19,313
gallons as compared with 7,954 gallons during the month of September*
The total consumption of sparkling wines since Repeal amounts ta
408,340 gallons, while for still wines the total consumed from December,
1933 through October, 1934 amounted to 3,368,006 gallons*
Duties collected on distilled liquors during October were
$3,412,200 as against $2,620,605 during September*
As a result of the reduction in rates of duty on rum from Cuba to
$2*50 per proof gallon, as compared with $4.00 per gallon prior to
September 4, when the Cuban reciprocity treaty became effective, import
of Cuban rum during the past month amounted to 28,907 gallons as eompar
with 25,320 gallons imported in September,
DISTILLED iiiauORS AND WINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED ||
December, I933 , - October, 1334, Incl.
Totals
Deo* 1333 to
«mne, 1334
193«
August
Septeilcbari,
iSM
15]
4 ,5 2 3 ,2 3 7
4,524,648
4,443,11 |00
231,408
313,452
33 3,0 8 3
4 ,838,05 536
560,15 U 3
CO
28,044
UCO
DISTILLED LICUORS (Proof Gallons):
Stock in Customs bonded Ware**
houses at beginning of month
July
{36
4,868,380
343,732
523,237
4, 524,648
4,443,183
2 3 0 ,0 0 1
314,757
544,758
*706,624
1,838,134
271,477
2 ,1 0 3 ,6 1 1
140,730
1,368,821
143,436
2,118,317
1,992,41 693
137,70 428
2 ,130,12 121
125,833
179,43 268
838,134
1,368,821
1,332,424
43,550
623,835
673,445
335,022
338,423
343,995
1 3 ,1 6 8
1 1 ,2 3 0
357,591
13,596
355,225
338,423
343,335
343,160
DUTIES COLLECTED ON
Distilled Liquors
Still Wines
Sparkling Wines
$18,644,423
3,373»848
$1 ,688,323
175*382
$1 ,3 1 3 ,0 3 7
1*393,426
7 h ,gg f
71,616
Total
$2 4 ,0 2 3 ,7 0 3
$1 ,3 4 3 * 4 17
$2,147,756
$3,029>5 602
(b) Revised,
(c) Pr«
TREASURY/DEf^RTMENT
O
PREPARED BY'"
DIVISION OF STATISTIC#' AND RESEARCH
BUREAU O^YCUSTOMS
1 5 7 ,1 0 3
UN
OS
4*
(a) Including withdrawals for ship supplies and diplomatic use*
1 2 ,0 6 5
r+
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
953
et
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
CM
730,155
313,463
4,838,117
388,334
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in customs Bonded Ware
houses at end of month
853
343,^
7,9
351,1
17:9
610
313
923
P53
333,61 m
$2,703:31 56°
223,5^ 838
0
B Vi
Totals
Dso#l933 to
Oot. 1934
28,044
9,989,563
1 0 ,0 1 7 ,6 0 7
,
5 805,^54
7,J« b53
p93
7,7fl 428
4,211,953
2 3 0 ,0 0 1
0,12 121
Mi 268
4,984,858
5,214,859
3 ,368,0 06
0,*! 353
1,846,853
3 ,li 610
49,550
7,9! 3I3 1,11 923
6 8 1 ,5 6 0
7,5< 153
408,340
3i*l m
322,770
7 3 1 .1 1 0
3,3! 560
3.5* 838
2 ^] 204
$28,468,908
4,204,740
9,$< 602
$35,107,019
Pr(
2,433.371
DUTIES COLLECTED OH IMPORTS OF DISTILLED AND FERMENTED LIQUOR
During September and Ootober, 1934
Rate of
Duty per
Gallon
1
Distilled Liquor
N
from Cuba
«
It
Rum
H
Sparkling Wines
it
n
from Cuba
Still Wines
N
It
from Cuba
September, 1934 I%J
Gallons(a)
Duties
Imported
Gallons(a)
Imported
Duties
$ 5.0 0
324,121
$2,620,605
682,440
$3,412,200
4.00
4,862
19,448
7,273
29,092
2*30
2 5 ,3 2 0
6 3,30 0
28,907
7 2 ,2 6 8
6 .0 0
17,092
102,552
30,034
180,204
4*80
14
*7
•
-
1*23
178,531
223,164
215,051
268,814
1*0 0
405
405
24
24
$3 ,962,60 2
Duties Collected on Liquor
$3*029*541
Duties Collected on Other Imports
33,144,581
2 6 .5 4 6 ,13 8
$36,174,122
$30,508,740
Total duties Collected
(a)
Gallonage for consumption as reported by the Department of Commerce.
(b)
Revised*
(o)
Preliminary*
P^EP^RED BY
D IVISIO N
OF
S T A T IS T IC S
B U R EA U /W
T R EA S U R Y
AN D
RESEA RCH
CUSTO M S
D EPA RTM EN T
TREASURY DEPARTMENT
Washington
IMMEDIATE RELEASE,
Saturday, November 17, 1934.
Press Service
No, 3-62
Records of the Bureau of Customs show that the amount of imported liquor
which entered into consumption during the month of October exceeded the total
amount imported during the same period, while the number of seizures of liquor, 418
for the violation of Customs Laws, : ®mankoii''v ' a decline for- the third successive
month,
tant,
Hov/ever, although the number of seizures was smaller, several were impor
Nearly 12,000 gallons of adcohol were seized.
Imports of liquor during October, according to preliminary figures just
compiled aggregated 656,696 proof gallons, an increase of 267,789 gallons or 68.9
percent over the imports for the previous month. October was the second successive
month to show an increase of imports of distilled liquors after a period from May
to August of sharply declining imports.
During October 722,643 proof gallons of imported liquors paid duty and
passed into the hands of consumers, an increase of 162,453 gallons or 29 percent
over the amount released for consumption during the previous month.
This makes
the fourth successive month in wn.ich a grea.ter amount of imported distilled
liquors entered into consumption them wg.s actually received.
At the end of October there remained in Customs bonded warehouses 4,211,953
gallons of distilled liquors, or 42.2 percent of the total amount of distilled
liquors imported during the eleven months since Repeal (9,989,563 gallons). The
amount of distilled liquors in warehouses at the end of October was less by
317,344 gallons than the amount at the end of June, at which time a larger
quantity of imported distilled liquors remained in Customs bonded warehouses than
tor any other month since Repeal.
Both still ana sparkling wines showed a greater gallonage entering into
consumption during the month than was actually received.
The amount of still
wines entering into consumption amounted to 214,268 gallons as against 111,428
I gallons imported.
For sparkling wines the figure was 30,153 gallons entering
j into consumption as against 19,313 gallons imported.
Imports of champagne and other sparkling wines were larger than for any month
I since.June, showing an increa.se of 142.8 percent over imports during the preceding
I month.
The quantity of such wines released for consumption during October
I (30,153 gallons) was the largest since March, 1934, and constituted an increase of
I 72^3 percent over the amount of imported sparkling wines entering into consumption
I during the previous month.
Total duties on imports of distilled liquors and wines during the past month
I aggregated $3,962,602 as compared with $3,029,541 during September, an increase
I of 30.8 percent.
Duties on liquors and wines during October represented 13
I percent of the total duties collected ($50,508,740) while duties on liquors and
I wines during September aggregated 8.4 percent of the total duties collected
($36,174,122).
Almost as much alcohol was seized during the past month as during June, when
I 13,532 gallons were reported, the October seizures aggregating far more than for
I any other month since Repeal.
The largest single seizure of alcohol during
I October was made in Massachusetts (3,789 gallons); additional important seizures
I were, one each in Georgia and Philadelphia of 3,710 gallons and 1,422 gallons,
I respectively, and two in Maine aggregating 1,569 gallons.
The number and value of vessels and vehicles seized for the transportation of
I liquor during October also exceeded those of the previous month, three boats
I valued at $3,810 and 25 automobiles valued at $8,029 being reported during the
I past month, as compared with one boat and 21 automobiles during September.
More than half of the seizures during October were made along the Mexican
I border, where 244 seizures were reported, as compared with 286 during the previous
I month.
The following ■tables present a detaile d statement of imports of distilled
I liquors and wines and duties collected thereon, and the number of gallons of
I beverages seized and the number and value of seized vehicles for the months of
I September and October classed according to the various Governmental agencies which
I made the seizures and according to the geographical regions where seizures were made.
DISTILLED LIQUORS AND WINES
IMPORTATIONS, DUTIES COLLECTED, AND " TOCKS IN CUSTOMS BONDED WAREHOUSES
December, 1933, - October, 1934, Xncl.
_ Totals ,
Dec. 1933 to
June ,1 934
DISTILLED LIQUORS (Proof Gallons):
Stock in Customs Bonded Ware
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses at beginning of month
Total Imports
and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware-.
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware
houses at end of month
DUTIES COLLECTED ON Distilled Liquors
Still Wines
Sparkling Wines
, ,
Sep&..,(b)
1934
Totals
October (c) Dec. 1933 to
1934________ Oct. 1934
28,044 4,449,183 4,277,900
28,044
388,907
8,291,408
656,696 9,989,563
8,319,452 4,838,090 4,934,596 10,017,607
560,190
3,790,155
722,643 5,805,654
4,529,297 4,277,900 4,211,953
4,211,953
230,001 1,992,424 1,950,693
137,700
4.314.757
111,428
4.544.758 2,130,124 2,062,121
179,431
2,706,624
215,268
230,001
4.984.858
5.214.859
3,368,006
1,838,134 1,950,693 1,846,853
1,846,853
49,550
623,895
673,445
335,022
343,160
7,954
351,114
17,504
333,610
19,313.
352,923
30,153
49,550
681,560
731,110
408,340
338,423
333,610
322,770
322,770
$18,644,429 2,703,353 3,513,560 28,468,908
3,379,848
223,569
268,838 4,204,740
1,999,426
102,619
180,204 2,433,371
$24,023,703 3,029,5*1-1. 3,962,602 35,107,019
(a) Including withdrawals for ship supplies and diplomatic use. (b) Revised,
(c) Preliminary.
DUTIES COLLECTED Oil IMPORTS OE DISTILLED AND FERMENTED LIQUOR
During September and October* 1934
_Rate of September, 1934 (l ) October,1934 (c)
Duty per Gallons (a)
GaTTohs (a)—
■Gallon____Imported „ .Duties .Importer) Unties
"
"
Rum
from Cuba
”
8
Sparkling Winer,
,f
"
11
4,862
19,448
7,273
29,092
2,50
25,320
63,300
28,907
72,268
6,00
from Cuba
Still Wines
"
4,00
4,80
17,092
14
1.25 178,531
from Cuba
1.00
405
102,552
30,034
180,204
223,164 215,051
268,814
67
405
24
_____24
Duties Collected on Liquor
$3,029,541
$3,962,602
Duties Collected on Other Imports
33,144,581
26,546,138
of Commerce
(b) Revised,
(c) Prelimina.ry.
~5LIQUOR SEIZURES FOR VIOLATIONS OF CUSTOMS LAWS
September and October, 1934
:
:
Gallons Seized
. No, of .Distilled.
.
. Liquor . Liquors .
.
.Seizures*and Wines. Beer. Alcohol
.. -- — -— ‘- .. -- - .--.. - .... CUSTOMS SERVICE
October
September
$10
19
~
20
$7,299
4,538
1
225
6,858
750
31
—
4,782
2
3,800
-
-
-
-
-
60
23
-
76
—
-
1
6
2
5
—
1
_
6
-
—
—
418
455
1,335
775
1,239
746
COAST GUARD
October
September
6
IMMIGRATION
October
September
12
TOTAL SEIZURES
October
September
1
-
51
17
394
448
OTHER
October
September
Boats
Automobiles
,
•
.
. No, Value
No,
Value
- - .... . .
5
51
17
11,717
750
-
3
1
230
-
2
1
275
5
$8,029
4*543
3
$3,810
25
1
1
21
BY GEOGRAPHIC REGIONS
CANADIAN BORDER
October
September
1
3
$10
18
29
54
9
51
5
1,606
82
MEXICAN BORDER
October
September
244
286
487
331
—
600
163
-
—
1
1
ATLANTIC COAST
October
September
111
110
683
403
-
9,511
-
2
19
17
74
—
—
~
1
-
-
4
-
950
12
26
r?r*
O (
**
~
~
-
10
19
-
-
-
—
-
-
3
1
COLE COAST
October
September
PACIFIC COAST
October
September
OTHER DISTRICTS
October
September
1
1
9
-
15
16
$1,654
1,633
3
4,700
2,500
1
—
505
3,800
4
$725
410
-
-
-
-
-
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
November 19, 1934.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Stebsx of December 21, 1933)
Proclamation
Week ended November 16, 1934:
Philadelphia.............................
206,621.78 fine ounces
San Francisco ..........................
809,229.73
Denver................... ...............
10,105.00...
Total for week ended Nov. 16.........
1,025,954.51
Total receipts through Nov. 16, 1934......
18,024,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 16, 1934:
Philadelphia ....................
New Y o r k ...... ...................
San Francisco....................
Denver ..........................
New Orleans .....................
Seattle ............. ............
Total for week ended Nov. 16..
Total receipts through Nov. 16, 1934
21,690.00 fine ounces
106.911.00
"
■
2,269.00
«
"
205.022.00
"
"
299.00
"
0
_
—
—
n
336.191.00
109,227,640.00
*
M
e”
"
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Secondary
$ 253,249.41
1,038,500.00
99,333.96
50,883.00
34,358.24
Week ended November 16, 1934:
Imports
Philadelphia..................... I
22,582.28
New York. ......................
23,623,300.00
San Francisco....................
187,587.63
D
e
n
v
e
r
33,804•00
New Orleans............. .........
- - — — —
Seattle.......................... ....... ..... . .
Total for week ended Nov. 16,1954... $23,867,273.91 $1,456,324.61
New
Domestic
$
805.42
49,700.00
970,983.91
849,704.00
797.66
775.973.74
$2,647,964.73
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER *S OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Nov. 14.......... .
Received previously......... .
Total to November 14, 1934......
Received by T reasurer^ Offices
Week ended Nov. 1 4 ......... .
Received previously............
Total to November 14, 1934.......
NOTE:
Gold Coin
29,044.92
29.559,444.88
$29,388,489.80
Gold Certificates
$
652,750.00
.75.925,050.00
$76,557,800.00
$
$
1
$
700.00
256,602.00
257,302.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
23,600.00
1,857,200.00
$ 1,860,800.00
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
November IS, 1934.
RECEIPTS OP SILVER BY THE MINTS;
(Under Executive Proclamation of December 21, 1933)
Week ended November 16, 1934:
Philadelphia
............,. .
San Francisco.....
D e n v e r . . . . . . . .
‘
Total for week ended Nov. 16........
Total receipts through Nov. 16, 1934......
206,621.78 fine ounces
809,229,73 "
11
10.103.00 "
«
1,025,954.51 |
"
18,024,000.00 11
11
SILVER TRANSPEERED TO UNITED STATES:
(Under Executive Proclamationof August 9, 1934)
Week ended November 16, 1934:
Philadelphia
21,690.00 fine ounces
New Y o r k ........
106,911.00 n
"
San Francisco.........
2,269.00 "
"
205,022.00 "
"
Denver........
New Orleans........... ................
299.00 11
"
Seattle........ ............. ......... .
'•
Total for week ended Nov. 16.
336,191.00
"
n
Total receipts through Nov. 16, 1934.
109,227,640.00
n
11
RECEIPTS OP GOLD BY THE MINTS AND ASSAY OFFICES:New
Week ended November 16, 1934:
______ Imports_______ Secondary_______ Domestic
Philadelphia ...... ............... $
22,582.28 $ 253,249,41
$
805.42
New York...........
23,623,300.00
1,038,500.00
49,700.00
San Francisco..... ...............
187,587.63
99,333.96
970,983.91
33,804.00
30,883.00
849,704,00
Denver........... .................
New Orleans,,................... .
,
--------34,358.24
797.66
Seattle,..,,,................... . .
--------- ------775,973.74
Total for week ended Nov. 16, 1934,... ,$23,867,2.73.91 $1,456,324.61 $2,647,964.73
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Nov. 14
Received previously
Total to November 14,1934
________ Gold C o i n _______ Gold Certificates
$
29,044.92
$
632,750.00
______ 29,359,444.88
75,925,050.00
$29,388,489.80
$76,557,800.00
Received by Treasurer's Office:
Week ended Nov. 14
Received previously
Total to November 14,1934.
$
700.00
_________ 256,602.00
$
257,302.00
NOTE:
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
$
23,600.00
1,837,200.00 ___
$ 1,860,800.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday* November 20* 1934*
Press Service
^^
11/19/M
Acting Secretary of the Treasury Coolidge announced
last evening that the tenders for $75,000,000, or there
abouts, of 182-day Treasury bills, dated November 21, 1934
and maturing May 22, 1935, sfeich were offered on November
16, were opened at the Federal reserve banks on November
19, 1934*
The total amount applied for was $208,855,000, of
which $75,168,000 was accepted* Except for four mall
tenders aggregating $17,000, the accepted bids ranged in
price from 99*909, equivalent to a rate of 0*18 percent
per annum, to 99*890, equivalent to a rate of about 0*22
percent per annum, on a bank discount basis* Only part
of the amount bid for at the latter price was accepted*
The average price of Treasury bills to be issued is
99*895 and the average rate is about 0.21 percent per
annua on a bank discount basis*
TREASURY DEPARTMENT
Washington
OR RELEASE, ’H O M I N G NEWSPAPERS,
uesday, November 20, 1954,
11-19-34.
press Service
No. 3 - 6 3
Acting Secretary of the Treasury Coolidge announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury bills, dated November 21, 1934, and maturing Hay 22, 1935,
which were offered on November 16, were opened at the Pederal reserve
banks on November 19, 1934.
Tho total amount applied for was $208,855,000, of which
$75,168,000 was accepted.
Except for four small tenders aggregat
ing $17,000, the accepted bids ranged in price from 99.909, equivalent
to a rate of 0.18 per cent per annum, to 99.890, equivalent to a rate
of about 0.22 per cent per annum, on a bank discount basis*.
Only
part of the amount bid for at the latter price was.accepted.
The
average price of Treasury bills to be issued is 99.895 and the
average rate is about 0*21 per cent per annum on a bank discount
basis
3
*^r >3,)^ 3 y
' (o y*
Word has been received ft4- p^nr-inn^?ifrilrimTh@ft^^^il
itil
ie.g^ that Lieutenant
R.L. Burke, Commanding Officer of the Coast Guard air station at Cape
May, New Jersey, flew the Amphibian plane ADHARA to a small island south
40
of Cape Hatteras after dark last night and removed Armistead T. 0 TNeiI,
age 18 years, a farmer with a serious leg injury^to the Naval operating
base at Norfolk*
Upon receiving word of the injuryjWhich was first reported as a
shot gun wound, lieutenant Burke notified the Coast Guard station at
Ocracoke, North Carolina to proceed to the island with kerosene lamps
I
as an aid to landing.
Even with this aid the ADHARA was grounded in
mud flats surrounded by a number of fishermen* s stakes.
Lieutent Burke
however, succeeded in getting O rNeil aboard the ADHARA successfully.
It was found that the latter had a severed artery and was bleeding
profusely.
An axe had caused the injury while OrNeil was cutting wood.
After several unsuccessful attempts Lieutenant Burke was able to
get the ADHARA into the air and back to Norfolk at 8:40 P.M. where an
ambulance was waiting.
Lieutenant Burke remained at the Naval Base
over night.
This is one of a number of rescues successfully completed by
Lieutenant Burke who has taken injured seamen from vessels as far as
200 miles out at sea and flown them to hospitals on shore.
Recently
he was commended by the Secretary of the Treasury for acts of unusual
bravery in line of duty.
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
November 23, 1934.
Press Service
No* 3— 64
Word has "been received at the Treasury Department that Lieutenant
R.L* Burke, Commanding Officer of the Coast Guard air station at Cape May,
New Jersey, flew the Amphibian plansADHARA to a small island south of Cape
Hatteras after dark last night and removed Armistead T* O rNeil, age 18 yearst
a farmer with a serious leg injury, to the Naval operating base at Norfolk*
Upon receiving word of the injury, which was first reported as a shotgun'
wound, Lieutenant Burke notified the Coast Guard station at Ocracoke, North
Carolina,to proceed to the island with, kerosene lamps as an aid to landing*
Even with, this aid the ADHARA was grounded in mud flats surrounded by a
number of fishermen’s stakes*
Lieutenant Burke, however, succeeded in getting
O ’Neil aboard the ADHARA successfully.
It was found that the latter had a
severed artery and was bleeding profusely*
An axe had caused the injury while
O ’Neil was cutting wood*
After several unsuccessful attempts Lieutenant Burke was able to get the
ADHARA into the air and back to Norfolk at 8.40 P*M* where an ambulance was
waiting.
Lieutenant Burke remained at the Naval Base over night*
This is one of a number of rescues successfully completed by Lieutenant
Burke who has taken injured seamen from vessels as far as 200 miles out at sea
and flown them to hospitals on shore*
Recently he was commended by the
Secretary of the Treasury for acts of unusual bravery in line of duty*
projects since October 1, 1934, bringing the total to 166 projects
involving total limits of cost of $19,920,502 and construction bids
have been received or are being requested at this time.
It has been the aim of the two departments to arrange the
program, which entails in all projects for 788 different communities
so as to have 90 percent of the work under contract duritg the early
part of the coming winter. The total amount available for emergency
construction is $134,028,706, of which amount there is now under
contract $39,145,998 as against $31,516,543 on October 1*
Sixty-five million dollars was appropriated by Congress June
19, 1934, as a means toward alleviating country-wide unemployment
in the building trades and allied industries.
This appropriation
was to augment the $67,000,000 authorized for public building
construction under previous legislation*
FOR RELEASE,
Sunday, November 25, 1934..
The Secretary of the Treasury and the Postmaster General announced
today the progress of the Emergency Construction Program for public
buildings for the period beginning October 1, 1934 when the last state
ments of results was issued, until November 15, 1934.
The original allotment of 302 projects selected under the $65,000,0
emergency appropriation authorized by Congress June 19, 1934 was augment
by 36 projects.
In 15 of these cases it was necessary to acquire new
sites, making a total of 222 sites in all which must be bought.
Ten
more sites were purchased during the period bringing the total to 183
purchased since June 25, 1934 when the program began.
In addition 7
new sites were also selected for public building projects authorized by
previous legislation, bringing the total number to 247 sites.
64 are yet to be selected.
Of these
The amount which will be paid for land in
the 247 cases is $3,450,214.
Plans are nearing completion for 311 projects, all of which is
contemplated will be placed under contract or on the market for bids
during the next few months.
The total limits of cost for the projects
now in the drawing stage will amount to $49,513,456, as against
$43,341,758 as of October 1, 1934.
Sites have been selected, topographi
surveys ordered and preliminary drawing work started on 73 projects,
for which the total limits of cost amount to $11,008,075.
Practically
all of the projects in this latter class will be under contract during
the early part of the coming winter.
A total of 36 new projects have been placed under contract during
the period October 1, 1934 and November 15, 1934, an increase of
$5,729,938 over the amount of $8,830,083 placed under contract by
October 1.
Plans and specifications have been completed for 32 more
TREASURY DEPARTMENT
Washington
EQR RELEASE,
Sunday, November 25, 1934.
Gres's Service
No. 3*-65
The Secretary of the Treasury and the Postmaster General announced today
the progress of the Emergency Construction Program for public buildings for the
period beginning October 1, 1934 when the last statement - of results was issued,
up to November 15, 1934*
The original allotment of 302 projects selected under the $65,000,000
emergency appropriation authorized by Congress June 19, 1934 was augmented by 36
projects.
In 15 of these cases it was necessary to acquire new sites, making a
total of 222 sites in all which must be bought.
Ten more sites were purchased
during the period,bringing the total to 183 purchased since June 25, 1934 when
the program began.
In addition 7 new sites were also selected for public building
projects authorized by previous legislation, bringing the total number to 247
sites.
Of these 64 are yet to be selected.
The amount which will be paid for
land in the 247 cases is $3,450,214.
it
Plans are nearing completion for 311 projects, all of which/is contemplated
will be placed under contract or on the market for bids during the next few month
The total limits of cost for the projects now in the drawing stage will amount
to $49,513,456, as against $43,341,758 as of October 1, 1934.
Sites have been
selected, topographical surveys ordered and preliminary drawing work started on
73 projects, for which the total limits of cost amount to $11,008,075.
PracticaJLly all of the projects in this latter class will be under contract
during the early part of the coming winter.
A total of 36 new projects have been placed under contract during the period
October 1, 1934 and November 15, 1934, an increase of $5,-729,938 over the amount
of $8,830,083 placed under contract by October 1.
Plans and specifications have
been completed for 32 more projects since October 1, 1934, bringing the total
to 166 projects involving total limits of cost of $19,920,502 and construction
bids have been received or are being requested at this time.
It has "been the aim of the two departments to arrange the program, which,
entails in all projects for 788 different communities, so as to have 90 percent
of the work under contract during the early part of the coming winter*
The total
amount available for emergency construction is $134,028,706, of which amount there
is now under contract $39,145,998 as against $31,516,543 on October 1.
Sixty-five million dollars was approprfebed by Congress June 19, 1934, as a
means toward alleviating country-wide unemployment in the building trades and
allied industries*
This appropriation was to augment the $67,000,000 authorized
for public building construction under previous legislation*
TREASURY DEPARTMENT
Washington
FOR,' IMMEDIATE RELEASE,
Saturday, November 24, 1934*
Press Service
No* 3-66
The Secret Service of the Treasury Department succeeded in apprehending
another counterfeiter,at Savannah, Georgia, yesterday, November 23, it was
announced today*
He was Victor Klingensmith, a four-time offender, alias
4
Jack Kelt, age 37, left eye glass*
He had three previous convictions for
counterfeiting in his record*
The first of his notes appeared in Philadelphia, October 15, 1934*
On
November 15, 1934, one hundred eighty-one of his $1*00 notes were found in a
transient camp at Tampa, Florida where Klingensmith was registered*
On
November 16, 1934, after he had checked out of the Tampa transient camp agents
traced him to Philadelphia where he checked a suitcase in a storage house*
This suitcase contained a compfehensive portable counterfeiting outfit, inclu
ding 2 plates for the counterfeit $1*00 note, 2 plates for a counterfeit $5*
Federal Reserve note (which had not yet been issued)printing press inks,
chemicals and other accessory paraphernalia*
Klingensmith was first arrested November 4, 1921 in Salt Lake City, Utah
for making counterfeit $5* notes and sentenced to 3 years in Leavenworth peniten
tiary*
He was again arrested in Sacramento, California, February 21, 1927 for
making and passing $10* notes on the Federal Reserve Bank of San Francisco, and
sentenced to one year in the county jail*
Agents seized his counterfeiting
outfit in a trunk in a Los Angeles storage house on June 7, 1927*
He was again arrested in St* Louis, Missouri, October 10, 1928 for making
and poasessing counterfeit $10* Federal Reserve notes and sentenced to serve six
years in Atlanta penitentiary*
He was released from prison April 11, 1933*Prior
to his conviction in this case, Secret Service agents located and seized his
counterfeiting outfit- in a trunk in East St* Louis, Illinois*
Klingensmith was isnown to agents to work alone at all times*
of the notes from the present plates were passed*
Very few
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
November 26, 1954.
EECEIPTS OF SILVER BY THE MINTSi
(Under Executive Proclamation of December 21, 1935)
Week ended November 23, 1934:
Ph i l a d e l p h i a...................... .
San Francisco....... ....... ........
Denver................ ..............
Total for week ended Nov. 23.....
Total receipts through November 23,1934
148,252.25 fine ounces
293,469.20
"
»
1,810.00
"
"
443,531.45
"
"
18,468,000.00
"
”
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 23, 1934s
Ph i l a d e l p h i a....... ........... .......
New Y irk................................
San Francisco ..................... ....
D e n v e r ............................ .
New Orleans ................. ..........
Seattle........................ .
Total for week ended Nov. 2 3 .......
Total receipts through November 23, 1934..
7.335.00 fine ounces
252,027.00
"
"
2.100.00
408.00
261,870.00
109,489,510.00
II
ft
"
"
n
"
"
M
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended November 23, 1934:
Philadelphia.....................
New York ••••••....... ..........
San Francisco .................. .
Denver...........................
New Orleans .............. .......
Seattle. ...... ...................
Total for week ended Nov. 23,1934...
I
Imports
--33,420,000.00
452,096.23
33,737.00
16,480.33
$ 33,922,31#.56
Secondary
365,223.48
1,500,000.00
104,459.05
35,544.00
45,180.88
59.881.56
$1,590,288.97
$
New
Domestic
$
764.4
1,399,427.8
71,689.0
746^3
167.505.7
$1,639,933.8
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary^ Order of Decanber 28, 1933)
Received by Federal Reserve Banks*
Week ended November 2 1 .... ......
Received previously......... .
Total to November 21, 1934......
Received by Treasurer^ Office^:
Week ended November 2 1 ..........
Received previously....... .
Total to November 21, 1934.....
NOTE
Gold Coin
63,733.00
29.388.489.80
$29,452,222.80
Gold Certificates
$
753,970.00
76.557.800.00
$77,311,770.00
<|
_____
$
$
257.502.00
257,302.00
I
Gold bars deposited with the New York Assay Office
to the amount of $200*572.69 previously reported.
20,700.00
1,860.800.00
$ 1,881,500.00
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
November 26, 1934*
RECEIPTS OP SILVER BY THE MINTS;
(Under Executive Proclamation of December 21, 1933)
Week ended November 23,1934i
Philadelphia
San Francisco..• «....................
Denver
Total for week ended Nov. 23.......
Total receipts through Nov. 23,1934.*...
148,252.25 fine ounces
293,469.20
M
"
1.810.00
«
**
443,531.45
»
«
18,468,000.00
,r «
S ilver tra nsfe rred to u ni ted s t a t e s *
(Under Executive Proclamation of August 9, 1934)
Week ended November 23, 1934:
Philadelphia
New York .......................... ...
San Francisco* *...... ...............
Denver*............... .
New Orleans *.... .
7,335.00 fine ounce;
it
252,027.00 tr
it
rr
i
t
i
i
2,100.00
i
t
i
t
408.00
ir
it
_ — -------i
t
i
i
261,870.00
i
t
i
t
109,489,510.00
Seat tie. »*■•■...........................
Total for week ended'Nov. 23.......
Total receipts through Nov* 23, 1934....
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended November 23, 1934:
____ Imports_______ Secondary
Domestic
Philadelphia .....
$
------$ 365,223.48$
764.40
New York
.... ^'...
33,420,000.00
1,500,000.00
-----San Francisco..
.
.
;
.
452,096.23 .
,104,459.05.1,399,427.88
Denver ............ ............. ...
33,737.00.
. 35,544.0071,689.00
New Orleans ................. .
16,480.33
,45,180.88 746.83
Seattle............ ....... .
------39.881.56167,305.72
Total for week ended Nov. 23, 1934 ... $33,922,313.56. $1,590,288.97$!,639,933.83
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Nov. 2 1 .... .......... .
Received previously...... .
Total to November 21, 1934.............
Received by Treasurer^ Office;
Week ended Nov. 21............. .......
Received previously..... ............. .
Total to November 21, 1934.............
Gold Coin
$
63,733.00,
29.388.489.80
$29,452,222.80
$
$
$
$
_______
257.302.00
257,302.00
NOTE: Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
Gold Certificates
753,970.00
76,557,800.00 ■
$77,311,770.00 •
20,700.00
■1,860,800.00
$ 1,881,500.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, November 27* 1934*
Press Service
3 -&> 7
11/26/84
Secretary of the Treasury Morgenthau announced last
evening that the tenders for 175,000,000, or thereabouts,
of 182-day Treasury bills, dated November 28, 1984, and
maturing May 29, 1985, which were offered on November 28,
were opened at the Federal reserve banks on November 26,
1984*
v
The total amount applied for was $814,910,000, of
which $75,287,000 was accepted* The accepted bids ranged
in price from 99*904, equivalent to a rate of about 0*19
percent per annum, to 99*680, equivalent to a rate of
about 0*24 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted* The average price of Treasury bills to be
issued is 99*886 end the average rate ie about 0*23 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE| MORNING- NEWSPAPERS,
Tuesday, November 27. 1934.
11-26-^34.
Press Service
No. 3-67
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $75,000,000, or thereabouts, of 182-day
Treasury hills, dated November 28, 1934, and maturing May 29, 1935,
which were offered on November 23, were opened at the Federal
reserve banks on November 26, 1934*
The total amount applied for was $314,910,000, of which
$75,287,000 was accepted.
The accepted bids ranged in price from
99.904, equivalent to a rate of about 0.19 percent per annum,
to
99.880, equivalent to a rate of about 0.24 percent per annum, on
a bank discount basis.
Only part of the amount bid for at the
latter price was accepted.
The average price of Treasury bills
to be issued is 99.886 and the average rate is about 0*23 percent
per annum on a bank discount basis.
2
.
meat agencies as of September 30, 1934, classified as to agencies and as to
the character of the obligations.
The following tabulation shows in millions of dollars a comparison
of proprietary interest as between September 30, 1934, and August 31, 1934:
Governmental Corporations and Credit Agencies
of the United States
(In millions of dollars)
: Proprietary in: terests owned by
: the United States
Increase
(♦)
Decrease
lSept. 30 : Aug. 31
.
1934 . .>n; . 1 I1934
,«..
... — —
I. Financed wholly from Government funds:
Reconstruction Finance Corporation ••••
Commodity Credit Corporation ••••••»••.
Export-Import Banks ••••••••••••»•••••«
Public Works Administration
Regional Agricultural Credit Cor**
porations ................
Production Credit Corporations ••••••••
Other (including crop loans)
(-)
2,346
81
13
206
2,346
114
14
181
0
* 33
- 1
♦ 25
53
110
305
53
no
317
0
0
- 12
3,114
3,135
- 21
163
103
196
112
82
90
166
101
196
112
82
93
m
101
5
158
100
3
150
♦ 1
♦ 2
♦ 8
Total, Group II:
1,010
1,003
♦ 7
Grand total:
4,124
4,138
- 14
Total, Group I:
II. Financed partly from Government funds
and partly from private funds:
Federal Land Banks.... ...........
Federal Intermediate Credit Banks •••••
Federal Farm Mortgage Corporation ••••»
Banks for Cooperatives ••••••••••••*•..
Home Loan Banks ............... .
Home Owners• Loan Corporation •»•••••».
Federal Savings & Loan Insurance Cor
poration ..... ............
Federal Savings and Loan Assoc lations..
Federal Deposit Insurance Corporation..
3
♦ 2
0
0
0
- 3
TREASURY DEPARTMENT
WASHINGTON
Press Service
No* 3 - 4 ^
FOR RELEASE, MORNING PAPERS,
Wednesday ? November 28, 1954 •
i
Secretary of the Treasury Morgenthau today made public a
combined statement of assets and liabilities of Governmental corporations
me
and credit agencies of the United States as of September 30, 1934*
tl
Qeteteer ftlth.
The report issued today shows in the case of agencies financed
3(
wholly from Government funds a proprietary interest of the United States as
pi
of September 30, 1934, of $3,114,083,015, which is a decrease of $20,758,275
Gc
over the proprietary interest shown as of August 31, 1934.
In the case of thesj
li
wholly-owned Government agencies the proprietary interest represents the
excess of assets over liabilities exclusive of inter-agency items*
Gc
The Government’s proprietary interest in agencies financed
partly from Government funds end partly from private funds as of September
30, 1934, was $1,009,832,002, an increase of $6,613,092 over the Government’s
interest as of August 31, 1934*
In the case of these partly-owned
Government
$]
At
Gc
63
agencies, the Government’s proprietary interest is the excess of assets over
liabilities, exclusive of inter-agency items, less the privately owned
interest in the assets*
Tt liiiinintn nf Irtnrihrr
0*
An accompanying table lists assets and liabilities of the Govern*
TREASURY DEPARTMENT
Washington
FOR-RELEASE, MORNING PAPERS,.
Wednesday, November 28. 1954.
11-27-34
Press Service
No* 3-68
Secretary of the Treasury Morgenthau today made public a combined state
ment of assets and liabilities of Governmental corporations and credit agencies of
the United States as of September 30, 1934*
The report issued today shows in the case of agencies financed wholly
from Government funds a proprietary interest of the United States as of September
30, 1934, of $3,114,083,015, which is a decrease of $20,758,275 over the pro
prietary interest shown as of August 31, 1934,
In the ca,se of these wholly-owned
Government agencies the proprietary interest represents the excess of assets over
liabilities exclusive of inter-agency items#
The Government1s proprietary interest in agencies financed partly from
Government funds and partly from private funds as of September 30, 1934, was
$1,009,832,002, an increase of $6,613,092 over the Governments interest as of
August 31, 1934#
In the case of these partly— owned Government agencies,, the
Governments proprietary interest is the excess of assets over liabilities,
exclusive of inter-agency items, less the privately owned interest in the assets*
An accompanying table lists assets and liabilities of the Government
agencies as of September 30, 1934, classified as to agencies and as to the
character of the obligations.
The following tabulation shows in millions of dollars a comparison
of proprietary interest as between September 30, 1934, and August 31, 1934,:
2-
Governmental Corporations and Credit Agencies
of the United States
(In millions of dollars)
:
s'
:
Proprietary in
terosts owned hy
the United States
Increase
(*fr)
Decrease
4
: Sept* 30
1934
:
r
Aug* 31
1934
(-)
j
I.
Financed wholly from Government funds:
Reconstruction Finance Corporation..
Commodity Credit Corporation........
Sxport-Import Banks ..... ...........
Public Works Administration.........
Regional Agricultural Credit Cor
porations. ...... .............
Production Credit Corporations.....*
Other (including crop loans).......
2,346
114
14
181
0
- 33
- 1
25
53
110
305
53
110
317
0
0
- 12
3,114
3,135
163
103
196
112
82
90
166
101
196
112
82
93
-
101
100
4- i
5
3
158
150
I o
p
Total, G-roup II::
1,010
1,003
? ?
Grand total:
4,124
4,138
- 14
2-346■
81
13
206
1.
Total, G-roup Is
II. Pinanced partly from Government funds
and partly from private funds:
Federal Land Banks*.................
Federal Intermediate Credit Banks...
Federal Farm Mortgage Corporation...
Banks for Cooperatives .............
Home Loan Banks.......................
Home Owners 1 Loan Corporation.......
Federal Savings & Loan Insurance
Corporation......................
Federal Savings and Loan Associa
tions......... ..............
Federal Deposit Insurance Cor
poration.. •.<• ....... ... *.... ..... .
i
- m
—
4
3
2
0
0
o
e
2
COMBINED STATEMENT
C R E D I T A G E N C I E S OF THE
OF ASSETS AND L I A B I L I T I E S OF G O V E R N M E N T A L C O R P O R A T I O N S AN D
U NIT ED STATES, AS OF S E P T E M B E R 30, 1934, COMPILED F R O M R E P O R T S
R E C E I V E D FROM O R G A N I Z A T I O N S C O N C E R N E D .
S U M M A R Y
ASSETS
loans
I.
CASH
a
LIABILITIES and RESERVES
l NVE5TME NTS
SECURITIES
U. S.
GUARA NTEEO
SECUR ITIES
BY U. S.
GUARANTEED
ALL OTHER
UNITED
STATES
TOTAL
PROPRIETARY INTERESTS
EXCESS OF
ASSETS OVER
NOT GUARANTEED
BY
UNITED
STATES
BY
OTHER
a
OWNED BY
UNITED
STATES
PR IVATELY
OWNED
l ia b il it i e s
TOTAL
DISTRIBUTION OF U. S. INTERESTS
CAPITAL
STOCK
INTER-AGENCY
I NTERESTS
SURPLUS
FINANCED WHOLLY FROM GOVERNMENT FUNDS:
Reconstruction Finance Corporation . . . .0 $2,591,967,639
Commodity Credit Corporation ......... »
79,495,308
Export-Import Banks.....................
Public works Administration.............
208,636,759
Regional Agricultural Credit Corporations.
49,180,467
Production Credit Corporations .........
Other (Including crop loans) ...........
274,009,909
Total Group I . ......... , . . .
3,197,290,082*
II. FINANCED PARTLY FROM GOVERNMENT FUNDS
AND PARTLY FROM PRIVATE FUNDS:
Federal Land Banks ...........
Federal Intermediate Credit Banks
Federal Farm Mortgage Corporation
Banks for CoappratIves ........
Home Loan Banks ...............
Heme Owners1 Loan Corporation . .
Federal Savings and Loan Insurance Corp
Federal Savings and Loan Associations
Federal Deposit Insurance Corporation
Total, Group I I ......... .
1,869,9$, 046
191,390,682
516,276,385
23,066,912
86,646,934
1,782,625,837
$9,161,744
114,393
13,808,398
1,270,633
2,345,944
2,355,901
20,289,615
49,280,628
28,667,523
18,720,270
13,396, 232
10,403,617
4,862,376
163,558,163
47,065
$15,034
3,158,332
9,401,426
12,5-75,592
66,857,777
74,082,340
$ 106,073,075
106,073,075
$29,355,400
$2,646,419,493
81.252.366
13,810,110
205,912,888
57.836.367
112,884,124
__435,080,677
3,553,196,065*
2,119,988,882
289,009,240
969,475,709
113,321,905
108 ,249,255
1,980,158,551
101,246,440
4,484,800
228,770,974
6,014,705,756
9,567,901,781
4,479,928,796
304,365,985
486,682,086
143,011,080 431,344,538
185,176,136
4,815,948
5,159,252
785,959
650,360
23,974,551
1,249,375
4,484,800
3,140,890
169,375,271
7,677,218,878
353,644,613
499,257,678
143,011,080
357,351,919
42-9,643,840
1>700,69$
77,436,689
2,383,906
13,705,680
99,950,000
59,708,709 __265,921,375
Grand Total................
$45,290,110
1,642,665
7,712
2,005,496
6,294, 122
1,296,816
131,439,727
187,976,648
537,417,613
$35,009,100
30,074
323,459
$300,747,778
30,074
323,459
4,853,322
2,726,015
130,432,362
173,374,332
4,853,322
2,726,015
130,432,562
*’ 439,113,010
1,858,895,904
186, 193,911
42,019,015
69,593
4,284,432
d 644,666,122
1,858,895,904
186,193,911
773,294,852
69,593
4 28-4,432
1,889,847,982
$265,738,678
265,738,678
$2,3-35,671,715
81,222,292
13,486,651
205,912,888
52,983,045
110,158, 109
304,648,315
3,114,0837615’
$2,345,671,715
81,222,292
13,486,651
2C6 ,912,888
52,983,045
110, 158,109
304,648,315
3,114,083,015
1,302,866
1,302,866
1,976,457,697
2,757,431,843
4,713,889,540
261,092,978 $98,505,145
102,815,329
196,180,857
113,252,312 f 1,263,841
.103,964,823 221,536,135
90,310,569
101,246,440
4,484,800
387,468,108 169,679,093
1,300,816,216 290,984,214
2,212,196,375
2,910,806,175
5,153,002,550
t,414,899,231
731,275,837
cl, 245,181,860
290,984,214
162,587,833
102,815,329
196,180,857
111,988,471
82,428,688
90,310,569
101,246,440
4,484,800
157,789,015
1,009,832,002
4,123,915,017
$500,000,000
3,000,000
13,750 000
e 304,747,151
44,425,000
110 000,000
n , 977,159,959
2,953,082,110
$62,564,7-45
1,056,740
*3 3 * 3 4 9
$1,763,106,970
77,165,552
100,331
8,667,376
,
117,874,935
70.000. 000
2 0 0 , 0 0 0 ,0 0 0
110.000.000
98,834,263
158,109
1>&?1,9&>102
_____
62,888,372
98,112,533
50,614,446
32,815,329
5>901>548
3 ,819,143
1,988,471
L 982,988
81,445,700
200, 000,000
8,972,765
100 , 000 ,00 0
100 ,7 16,666
529,774
716,666
4,484,800
150,000,000
1,053,805,435
74,139,100
98,212,537
3,986,887,545
137,027,472
7,789,015
0 E T A I L S
RECONSTRUCTION
COMMODITY
FINANCE
j
CREDIT
CORPORATION
CORPORATION
ASSETS:
Loans
Banks............... .
Railroads . . . . . .............
Insurance Companies......... . .
Credit Unions ...................
Building and Loan Associations. . .
Live-stock Credit Corporations. . .
Mortgage Loan Companies . . . . . .
Agriculutral Credit Corporations. .
Mortgage Loans ....... ........
Crop, Live-stock and Commodity Loans
Cooperative Associations. . . . . .
States, Territories , etc.........
joint Stock Land Banks . .'. . . ...
Federal Land Banks. . . . . . . . .
Other........... ..............
$597,423,159
343,286,895
56,506,843
388,-134
28,251,589
1,603,991
177,605,780
5,184,678
—
89,573,,577
$49,100,467
298,227,406
7,695,963
116,040,026
166,782,360
Sub-total...............
1,798,997,122
Investments:
U. S. Securities. . . . . . . . . .
Obligations Guaranteed by U. S. t
Federal Farm Mortgage Corporation
Heme Owners* Loan Corporation. .
Federal Land Bank Bonds ..........
Intermediate Credit Bank Securities
Production Credit Associations:
Class A stock........
Accounts Receivable (tax advances, etc
Accrued interest Receivable . . . .
Other Repayable Assets ..........
Real Estate and Business Property .
Real Estate held for Sale - . . .
Other Assets . . . . . . . . . . . .
OTHER
—
$37,585,,041
— —
—
—
$108,927,000
$79,495,308
Preferred stock, capital notes, and debe ntures:
Banks and Trust Companies . . . .
Insurance Companies . . . . . . .
Cash:
with U. S. Treasury . . . . . . .
On Hand and In Banks. ..........
In transit................. . .
In trust funds....... .
Total Assets ..........
FINANCED WHOLLY FROM GOVERNMENT FUNDS
REG IONAL
EXPORTPUBLIC WORKS
PRODUCTION
IMPORT
ADMINISTR A- AGR(CULTURAL
CRED IT
CRED
IT
BANKS
T I ON
CORP ORAT IONS CORPOR AT I ONS
60,709,759
7 9,495,308
202,636,759
767,.440
—
146,083,,851
274,009,,909
49,180,467
792, 870,517
100,000
1,894,965
7,266,779
*0 $
114,393
$13,302,398
1,270,633
2,157,006
157,349
31,089
15,834
FINANCED PARTLY FROM GOVERNMENT FUNDS AND PARTLY FROM PRIVATE FUNDS
FEDERAL
FEDERAL i
HOME
FEDERAL SAV
FEDERAL
OANKS
HOME
NTERMEDIATE
FARM
OWNERS 1
INGS AND LOAN SAVINGS AND
FO
R
LO
AN
CREDIT
MORTGAGE
i
LOAN
INSURA NCE
LOAN
BANKS
BANKS
| CORPORATION I COOPEt\ AT I VE S
CORPORAT ION
CORPORATION ASSOC IAT IONS
FEDERAL
LAND
BANKS
TOTAL
$597,-123,,159
489,793,,934
56,506,,843
368,,434
28,251,,589
1,603,,991
177,605,,780
5,134, 678
89,573,,577
128,675,,775
-$516,214,662
$181,403,741
61,723
9,986,941
391,667,,105
8,463, 403
116,040, 026
312,866.2 1 1
2,404,319,,565
1,869,902,046
191,390,682
$86,639,719
•7,215
7,215
$1,792,625,837
4,178,772,545
181,465,464
33,043,853
$23,056,912
516,276,385
23,056,912
86,646,934
1,792,625,837
18,396,232
163,519,213
38,950
^,479,926,796
792,870, 517
100,000
28,667,523
18,720,270
8,317,293
2,036,354
1,369,068
3,493,308
1,219,051
30,994,002
9,439,673
2,597,049
9,249,904
3,158,332
9,401,426
12,575,592
66,857,777
74,082,340
77,436,689
2,383,905
$47,065
$59,708,709
251,357,580
53,006,405
2(55,921,375
486,682,086
29,355,400
26,224,500
13,705,680
26,224,500
29,355,400
113,655,680
429,643,840
1,700,698
99,950,000
429,643,840
1,700,698
42,163,137
2,598,976
527,997
450
1,631,991
10,172
______ 52
j^646,4l9,493
LIABILITIES:
Bonds, Notes and Debentures:
Obligations guaranteed by u. S. . .
All other . , . .................
Accrued interest;
Guaranteed by U. S. . . . . . . . ,
All other . . . . . .............
Other Liabilities (Inc. trust accounts)
Reserves:
Legal Reserves. . . . . . . . . . .
Reserve for Uncollectible Items . .
Other . . . . . . . . . . . . . . . .
81,252,366
163,662
75,733
732,838
191,141
9,801,377
98,409
17,298
19,040,399
2,492,527
99.989,637
57,836,367
112,884,124
435,030,677
79,840,575
10,235,536
49,814,975
2,616,274
20,237,201
4,153,208
100,919.454
3,555, 196,035
97,764,696
245,964,667
97,764,696
1,645,370,760
181,770,000
83,186
IS,562,768
19,774,011
698,582
64,169,355
23,083,072
183,367,628
-1,147,112
3,276,799
338,880
4,982,970
1,976
420,537
1,584,959
5,736
13,810,110 2 05,912,888
79,848,575
94,829
£03,388
72,450
245,964,667
19,774,011
9,159
34,899,941
30,074
100,000
Total Liabilities. . . .
4,447,594
406,728
323,459
606,237
1,228,978
390,800
5,290
9,016,422
TOTAL
$86 ,(£39,719
11,754,607
878,195
2,565,960
5,000,853
$1,136,850
FEDERAL
OEPOSIT
I NSURANCE
CORPORATION
13,594,629
26,204,608
3.331.475
1.341.475
5,009»4Qg
1,769
661,640
559,897
4,320,869
17,232,680
4,676,726
70,149,797
2,470,176
2, 119,983,88 2
21
50,257
42,659
49,047
2,421,002
142,977
289,009,240
17.891
41,416
969,475,709 __ 113,321,905
108,249,255
1,980, 158,551
724,471,000
h
6,804,037
42,019,a 5
4,310
4,008,131
3,066,313
5,290
1ft736,409
300,747,770
99,527
3,721,039
1,249,375
2,363,948
133,942
101,246,440
$4,484,000
4,464,800
1,952,277,900
2,456,696,935
17,374,960
600,309
24,179,797
24,230,104
244, 243,600
11,246,000
563,393
694,557
4,571,524
6,930,260
759,340
1,302,866
4,713,889,540
3,863,947
U0V 9 57V**
■lOU# 1 vAJf 57Xi
■//o,«y4,852
69,593
7,373,654
73, 149,797
7,800,260
6,014,705,756
1,227,806,900
629,556,175
64,783
19
643,000
328,770,974
21,348,269
54,703,291
4,284,432
1,839,847,982
Excess of Assets over Liabilities,
exclusive of inter-agency transactions .
Privately owned interests ............ .
2,345,671,715
81,222,292
B, 486,651
205,912,838
52,983,045
110,158,109
304,640,315
3,114,063,015
261,092,978
98,505, 145
102,815,329
196,180,357
113,252,312
1,263,841
103,964,‘23
g21,536,135
90,310,569
101,246,440
4,484,800
327,468,100
169,679,093
1,300,016,216
290,904,214
U. S. Government Interests
2.345.671.715
01 £ 22. 292
13.486.651
205.612,888
52,983.045
110.153,109
304,648,315
3,114.033.015
162,687,833
102,315,329
196,130,857
111,988,471
82,420,600
90,310,569
101,246,440
4,484,800
157,739,015
1,009,832,002
500,000,000
62,564,745
1,783,106,970
3,000,000
1,056,740
77,165,552
13,750,000 e 304,747,151
110,000,000 el,977,159,959
158,109
518,542
-2 ,6 7 1 ,9 ^ , 1 0 2
2,953,082,110
62,383,372
90,112,533
117,074,935
50,914,446
70,000,000
32,815,329
20 0 ,000,000
1 1 0 ,000,000
1,908,471
31,445,700
982,903
200,000,000
150,000,000
8* 9 7 £ , m
100 ,j i 6 , 6 6 6
10 0 ,000,000
529,774
716,666
4,464,900
98,834,263
44,425,000
„ ^9,33}
8,667,376
1,033,806,435
74,139,100
7,709,015
98,112,533
2,345,671,715
31,222,292
13,486,651
205,912,307
52,983,045
110,158,109
3,114,083.015
162,587,833
90,310,569
101,246,440
4,484,800
157,789,015
1,009,032,002
....
Distribution of Government interests
Capital Stock ..............
Surplus . . . ..............
Inter-agency Interests (net) .
2 63>349
304,640,315
5,901,548
102,815,329
196,180,857
111,938,471
82,428,680
a
Exclusive of Inter-agency assets and liabilities (except bond Investments),
e
Non-stock.
b
c
includes $792,970,517 preferred stock in banks and insurance companies,
Exclusive of $16,672 accrued Interest guaranted by United States for which an
equal amount of cash has been deposited with the Treasury to cover payre nt.
f
g
Includes $22,441 proportionate share of earned surplus,
Includes $802,890 proportionate share of earned surplus.
Includes $629,556,175 4% bonds which were exchangeable until Octtber 27, 1934 for
3% bonds guaranteed by united States.
H
Represents 4% bonds which were exchangeable until October 31, 1S34 for
b*nds guaranteed by united States.
TREASURY DEPARTMENT
OFFICE CF THE SECRETARY.
3 *819,143
(Amounts shown In italics represent deductions.)
m i m ) s f j m s j a m f m m w s obligations , bisect s m / m m m S m m m m m * - as reported it
5»*6* op * m M G u m n m w i a h u q e . b a m s , as ^ / tbs o m m m b u s i m s s m October
17 ,> 9 5 *.
5
1. Direct obligations of the United State*
Gerernsent;
(a) first Liberty loan 3 ¥ bonds, 1932-*7~
$52,527,000
(b) Other Liberty loan bond*.............
*35,5*9,000
(c) frsasnry bonds... ........... .
(d) Other United State* bonds..............
2,1*8,*03,000
627,991,000
(a) Treasury notes....... ........... 2,008 ,*50,000
(f) Certificates of indebtedness........
227,729,000
(g) Treasury bill#...................
577,277,000
$5,877,926,000
2. Obligation* guaranteed by the United States
GoveTranent ae to interest and principal:
(a) Reconstruction Finance Corporation...
18*,612,000
(b) Federal Fans Mortgage Corporation....
1**,*97,000
(c) Home Owners* Loan Corporation.......
187,728,000
3.
516,837,000
£v ^
figures do not include
Alaska,
HR
wbieb is In
call
In addition toN^je foregoing figures the
statements Boras C^ej^^hopn Corporation *$ bonds
Statos as to interest cmly, aggregating $153,
(j%*J jbhW'A
show in their condition
the United
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Thursday, November 29. 1934*
11-28-34.
Press Service
No. 3-69
National hanks held $5,877,926,000 in direct obligations of the United States
on October 17, 1934, the date of the latest call for their statements of condition,
according to a preliminary compilation made public at the Treasury Department today
by the Comptroller of the Currency, J.F.T. O ’Connor.
In addition the national
banks reported holdings of $516,837,000 in obligations guaranteed by the United
States as to principal and interest and $153,711,000 of obligations guaranteed by
the United States as to interest only.
This combined total of $6,548,474,000 is
$544,822,000 greater than the comparable figure for the June 30, 1934 call.
The distribution of the security holdings of the banks was as shown below:
1.
Direct obligations of the United States
Government:
(a) First Liberty Loan 3-|‘
Jo bonds, 1932-47.»
(b) Other Liberty loan bonds..... .........
(c ) Treasury bonds..... ......... .
(d) Other-United States bonds*......... .
(e) Treasury notes....... ............. .
2.
3.
$
52,527,000
435.549.000
2.148.403.000
627.991.000
2.008.450.000
(f) Certificates of indebtedness..... .
227.729.000
(g) Treasury bills....... ........... .*....
377.277.000
$5,877,926,000
Obligations guaranteed by the United States
Government as to interest aid principal:
(a) Reconstruction Finance Corporation....
184.612.000
(b) Federal Farm Mortgage Corporation*•.•••
144.497.000
(c) Home Owners’ Loan C o r p o r a t i o n . •
187.728.000
516,837,000
153,711,000
153,711,000
Obligations guaranteed by the United States
Government as to interest only:
(a) Home Owners’ Loan Corporation
TOTAL
$6,548,474,000
TREASURE DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Monday, December 3, 1934*
I'Tu—
JL / W V
■v-*. * * T v
I ^ 3 »4
Secretary of the Treasury Morgenthau today announced that the Decem
ber 15 quarterly financing would consist of an offering for each of
1450,000,000 of 3-1/6 percent Treasury bonds and an offering for cash of
#450,000,000 in 1-1/8 percent Treasury notes* The holders of Treasury
certificates of indebtedness of Series TD-1934, maturing December 15, 1934,
are given an exchange offering at their option into the 1-1/8 percent notes,
which will mature June 15, 1936, or into 2-1/8 percent notes maturing June
15,
1939* The amount of maturing certificates outstanding is #992,496,500*
Treasury bonds bearing interest at 3-1/8 percent are offered only on
cash subscriptions at par and accrued interest to the amount of #450,000,000,
or thereabouts. They are to be 16-18 year bonds, dated December 15, 1934.
They will mature Depember 15, 1952, but may be redeemed at the option of the
United States on and after December 15, 1949*
Treasury notes of Series E-1936 are offered for cash subscription in the
amount of about #480 ,000,000 and in exchange, with the right reserved by the
Secretary of the Treasury to increase the offering by an amount sufficient to
accept all subscriptions for which payment is tendered in Treasury certificates
of indebtedness of Series TD-1934. The notes of Series E-1936 will be dated
December 15, 1934, and will bear interest from that date at the rate of 1-1/8
percent per annum, payable semiannually on June 15 and December 15. They
will mature June 15, 1936, and will not be subject to call for redemption
RELEASE, MORNING NEWSPAPERS,
Monday, December 3, 1934.
12-1-34.
Press Service
No.. 3-72
Secretary of the Treasury Morgenthau today announced that the Decem
ber 15 quarterly financing would consist of an offering for cash of
$450,000,000 of 3-1/8 percent Treasury "bonds and an offering for cash of
$450,000,000 in l-l/8 percent Treasury notes.
The holders of Treasury
certificates of indebtedness of Series TD-1934, maturing December 15, 1934,
are given an exchange offering at their option into the 1-1/8 percent notes,
which will mature June 15, 1936, or into 2-1/8 percent notes maturing June.
15, 1939.
The amount of maturing certificates outstanding is $992,496,500.
Treasury bonds bearing interest at 3-1/8 percent are offered only on
cash subscriptions at par and accrued interest to the amouht of $450,000,000,
or thereabouts.
They are to be 15-18 year bonds, dated December 15, 1934.
They will mature December 15, 1952, but may bo redeemed at the option of the
United States on and after December 15, 1949#
Treasury notes of Series E— 1936 are offered for cash subscription in the
amount of about $450,000,000 and in exchange, with the right reserved by the
Secretary of the Treasury to increase the offering by an amount sufficient to
accept all subscriptions for which payment is tendered in Treasury certifi
cates of indebtedness of Series TD-1934.
The notes of Series E-1936 will be
dated December 15, 1934, and will bear interest from that date at the rate of
l-l/8 percent per annum, payable semiannually on June 15 and December 15.
They will mature June 15, 1936, and will not be subject to call for redemption
before that date
- 2 -
Treasury notes of Series A-1939 are offered only in exchange for
Treasury certificates of indebtedness of Series TD-1934, maturing December
15, 1934.
They are not offered for cash.
These notes will be an addition
to and will form a part of the series of notes issued on June 15, 1934,
pursuant to Department Circular Uo. 513, dated June 4, 1934, and are
identical in all respects therewith except that interest on the additional
notes issued will accrue from December 15, 1934.
The notes will bear
interest at the rate of 2-1/8 percent per annum, payable semiannually on
June 15 and December 15.
They will mature June 15, 1939, and will not be
subject to call for redemption before that date.
As more specifically set forth in the official circulars issueo. ooday, —
the Treasury bonds will be exempt, both as to principal and interest, from
all taxation, except estate or inheritance taxes, surtaxes, excess-proiits
and war-profits taxes; the interest on bonds ( issued under the Second Liberty
Bond Act) up to $5,000 of principal amount under one ownership will be
exempt from all taxation; and the Treasury notes will be exempt, botn as to
principal and interest, from all taxation except estate or inheritance taxes.
The Treasury bonds will be issued in two forms, bearer bonds with
interest coupons attached, and bonds registered as to principal and interest,
and in the denominations of $50, $100, $500, $1,000, $5,000, $10,000 and
$100,000.
The Treasury notes will be issued only in bearer form with coupons
attached, and in the denominations of $100, $500, $1,000, $5,000, $10,000
and $100,000.
As notes of Series A-1939 are dated June 15, 1934, with
interest accruing from December 15, 1934, the notes will he delivered
with coupon Do. 1, dated December 15, 1934, detached.
Applications will he received at the Federal reserve hanks and
branches ana at the Treasury Department, Washington.
Banking insti tui
tions generally will handle applications for subscribers, but only the
Federal reserve banks and the Treasury Department are authorized to
act as official agencies.
Applications for Treasury bonds of 1949— 52, and cash applications
for Treasury notes of Series E-1936, unless made by an incorporated bank
or trust company, must be accompanied by payment in full or by payment
of five percent of the amount of bonds or notes applied for, and if
payment for bonds or notes is not made or completed on the prescribed
date the five percent payment shall be forfeited to the United States*
upon declaration made by the Secretary of the Treasury in his discretion.
Exchange applications for Treasury notes of Series E-1936 and for
the additional issuo of Treasury notes of Series A-1939 should be accompanied
by Treasury certificates of indebtedness of Series TD—1934, maturing December
15, 1934, tendered in payment*
Subject to the reservations set forth in the official circulars, cash
subscriptions for the bonds or for the notes of Series E—1936 for amounts
up to and including $10,000 will be given preferred allotment, and other
cash subscriptions will be allotted on an equal percentage basis, and
exchange subscriptions for notes of Series E— 1936 and Series A— 1939, in
payment of which Treasury certificates of indebtedness of Series TD-1934
are tendered will be allotted in ful
The holders of Treasury certificates of indebtedness of Series TD-1934
maturing on December 15, 1934, are now offered the opportunity of exchanging
their certificates for 18—month l-l/8 percent, or 4— 1/2 year 2— 1/8 percent
Treasury notes.
Interest on the public debt to the amount of about
$137,000,000 is payable on December 15, 1934#
The text of the official circulars follow:
3-1/8 PERCENT TREASURY BONDS OE 1949-52
Treasury Department Circular No. 526.
Public Debt Service
December 3, 1934.
Tlie Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscrip
tions, at par and accrued interest,.from the people of the United States, for
three and one-eighth per cent bonds of the United States, designated Treasury ,
bonds of 1949-52.
The amount of the offering is $450,000,000, or thereabouts.
Description of Bonds
The bonds will be dated December 15, 1934, and will bear interest from
that date at the rate of three and one-eighth per cent per annum, payable semi
annually on June 15 and December 15 in each year until the principal amount
becomes payable.
They will mature December 15, 1952, but may be redeemed at
the option of the United States on and after December 15, 1949, in whole or in
part, at par and accrued interest, on any interest day or days, on 4 months*
notice of.redemption given in such manner as the Secretary of the Treasury shall
prescribe.
In case of partial redemption the bonds to be redeemed will be de
termined by such method as may be prescribed by the Secretary of the Treasury.
Prom the date of redemption designated in any such notice, interest on the bonds
called for redemption shall cease.
The bonds shall be exempt, both as to principal and interest, from all
taxation now or hereafter imposed by the United States, any State, or any of
the possessions of the United States, or by any local taxing authority, except
(a) estate or inheritance taxes, and (b) graduated additional income taxes,
commonly knov/n as surtaxes, and excess-profits and war-profits taxes, now or
-
2
-
hereafter imposed /by the United States, upon the|income or profits of individu
als, partnerships, associations, or corporations.
The interest on an amount
of bonds authorised by the Second Liberty Bond Act,, approved September 24, 1917,
a,s amended, the principal of which does not exceed $5,000, owned by any individu
a l , partnership, association, o r .corporation, shall be exempt from the taxes
provided for in clause (b) above.
The bonds will be acceptable to secure deposits of public moneys, and will
bear the circulation privilege only to the extent provided in the act approved
July 22, 1932, as amended.
They will not be entitled to any privilege of
conversion.
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, will be issued in denominations of $50, $100, $500,
$1,000, $5,000, $10,000 and $100,000.
Provision will be made for the inter
change of Donds of different denominations and of coupon and registered bonds,
and for the transfer of registered bonds under rules and regulations prescribed
by the Secretary of the Treasury.
The bonds will be subject to the general regulations of the Treasury De
partment, now or hereafter prescribed, governing United States bonds.
Application and A11 otment
Applications will be received at the Federal reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally
will handle applications for subscribers, but only the Federal reserve.banks
and the Treasury Department are authorized to act as official agencies.
Appli
cations, unless made by an incorporated bank or trust company, must be accompanied
by payment in full or by payment of 5 per cent of the amount of bonds applied
for.
The Secretary of the Treasury reserves the right to close the books as to
any or all subscriptions or classes of subscriptions at any time without notice.
- 3 The Secretary of the Treasury reserves the right to reject any subscription,
in whole or in part, to allot loss than the amount of bonds applied for, to make
allotments in full upon applications for smaller amounts and,to make reduced al
lotments upon, or to reject, applications for Larger amounts, to make classified
allotments or to make allotments upon a graduated scale, or to adopt any or all
of said methods or such other methods of allotment and classification of allot
ment o as shall he deemed by nim to oe in the public interest; and his auction in
any or all of Lh.es e respects shall oe final#
Subject to these reservations,
►subscriptions for amounts up to and including $10,000 will be given preferred
allotment, and all other suoscriptions will be allotted on an equal percentage
basio#
Allotment notices will oe sent out promptly upon allotment, and the
basis of allotment will be publicly announced.
Payment
Payment at par and accrued interest, if any, for bonds allotted hereunder
must be made or completed on or before December 15, 1934, or on later allotment.
In every case where payment rs not so completed, the 5 per cent payment with
application shall, upon declaration made by the Secretary of the Treasury in his
discretion, be iorfeited to the United States.
Ary qualified depositary will be
permitted to make payment by credit for bonds allotted to it for itself and its
customers up to any amount for which it shall be qualified in excess <pf existing
deposits when so notified by the Pederal reserve bank of its district.
G-onera! Provisions
As fiscad agents of tne United States, Pedoral reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up
to the amounts indicated by the Secretary of the Treasury to the Pederal reserve
bonks of the respective districts, to issue allotment notices, to receive pay
ment for bonds allotted, to make delivery of bonds on full-paid subscriptions
allotted, and tnoy may issue interim receipts pending delivery of the definitive
bonds.
- 4 -
The Secretary of the Treasury may at any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering,
which will he communicated promptly to the Federal reserve hanks.
HENRY MORGEHTKAU, JR.,
Secretary of the Treasury.
1-1/8 PERCENT TREASURY NOTES OE SERIES E-1936
Treasury Department Circular No. 527.
Public Debt Service.
December 3, 1934*
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, offers for subscrip
tion, at par and accrued interest, one and one— eighth percent notes of the
United States, designated Treasury notes of Series E— 1936.
The amount of the
offering is $450,000,000, or thereabouts, with the right reserved to the Secretary
of the Treasury to increase the offering by an amount sufficient to accept all
subscriptions for which Treasury certificates of indebtedness of.Series TD—1934,
maturing December 15, 1934, are tendered in payment and accepted.
Description of Notes
The notes will be dated December 15, 1934, and will bear interest from that
date at the rate of one and one— eighth percent per annum, payable semi-annually
on June 15 and December 15 in each year.
They will mature June 15, 1936, and
will not be subject to call for redemption prior to maturity.
The notes shall be exempt, both as to principal and interest, from all
taxation (except estate or inheritance taxes) now or hereafter imposed by the
United States, any State, or any of the possessions of the United States, or by
any local t.axing authority.
The notes will be accepted at par during such time and under such rules
and regulations as shall be prescribed or approved by the Secretary of the
Treasury in payment of income and profits taxes payable
at the maturity of the
notes.
The notes will be acceptable to secure deposits of public moneys, but will
not bear the circulation privilege.
Bearer notes with interest coupons attached will be issued in denominations
of $100, $500, $1,000, $5,000, $10,000 and $100,000.
issued in registered
. form,
The notes will not be
Application and A llotment
Applications will be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally will
handle applications for subscribers, but only the Federal reserve banks and the
Treasury Department are authorized to act as official agencies.
If payment is
to be made in cash, each application, unless made by an incorporated sank or
trust company, must be accompanied by payment in full or by payment of five
percent of the amount of notes applied for.
The Secretary of the Treasury
reserves the right to close the books as to any or all subscriptions or classes
of subscriptions at any time without notice#
The Secretary of the Treasury reserves the right to reject any subscription,
in whole or in part, to allot loss than the amount of notes applied for, to make
allotments in full upon applications for smaller amounts and to make reduced
allotments upon, or to reject, applications for larger amounts, to make classified allotments or to moke .allotments upon a graduated scale, or to adopt any or
all of said methods or such other methods of allotment and classification of
allotments as shall be deemed by him to be in the public interest; and his
action in any or all of these respects shall be final.
Subject to these reserva
tions, cash subscriptions for amounts up to and including $10,000 will be given
preferred allotment, all other cash subscriptions will be allotted on an equal
percentage basis, and subscriptions in payment of which Treasury certificates of
indebtedness of Series TD-1934 are tendered will be allotted in full.
Allotment
notices will be sent put promptly upon allotment, and the basis of allotment will
be publicly announced#
Payment
Payment at par and accrued interest, if nny, for notes allotted on cash
subscriptions must be made or
later allotment.
completed on or before December 15, 1934, or on
In every case ’.-.'here payment is not so completed, the five
percent payment with application shall, upon declaration made by the Secretary
of the Treasury in his discretion, be forfeited to the United States.
Any
qualified depositary will "be permitted to make payment by credit for notes
allotted on cash, subscriptions to it for itself ana. its customers up to any amount
for which it shall be qualified in excess of existing deposits when so notified
by the Federal reserve bank of its district.
Treasury certificates of indebted
ness of Series TD-1934, maturing December 15, 1934, 'will be accepted at par in
payment for any notes subscribed for and allotted and such payment snould be
made when the subscription is tendered.
General Provisions
As fiscal agents of the United States, Federal reserve banks are authorised
and requested to receive subscriptions, to make allotments on the basis and up
to the .amounts indicated by the Secretary of the Treasury to the Federal reserve
banks of the respective districts, to issue allotment notices, to receive pay
ment for notes allotted, to make delivery of notes on full—paid subscriptions
allotted, and they may issue interim receipts pending delivery of the definitive
notes*
The Secretary of the Treasury may at any tine, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal reserve banks*
HFKRY MOEGMTHAU, JR.,
Secretary of the Treasury
2-l/8 PERCENT TREASURY NOTES OE SERIES A-1939
Additional Issue
Treasury Department Circular Ho. 588.
Public Debt Service
December 3, 1934
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, offers for subscrip
tion, at par, an additional amount of two and one-eighth per cent notes of the
United States, designated Treasury notes of Series A-1939,
m
payment of which
only Treasury certificates of indebtedness of Series TD-1934, maturing December
15, 1934, may be tendered.
The amount of the offering is limited to the
amount of Treasury certificates of indebtedness of Series TD-1934 tendered and
accepted.
Description of Notes
The notes now offered will be an addition to and will form a part of the
series of two and one-eighth per cent Treasury notes of Series A-1939 issued
pursuant to Department Circular No.'513, dated June 4, 1934, are identical m
all respects therewith (except that interest on the notes issued under this
circular will accrue from December 15, 1934), will be freely interchangeable,
and are described in the following quotation from said circular No. 513:
»The notes will be dated June 15, 1934, and will bear interest from
that date at the rate of two and one-eighth per cent per annum, payable
semiannually, on December 15, 1934, and thereafter on June 15 and Decem
ber 15 in each year.
They will mature June 15, 1939, and will not oe
subject to call for redemption prior to maturity.
'‘The notes shall be exempt, both as to principal and interest, from
all taxation (except estate or inheritance taxes) now or hereafter
imposed by the United States, any State, or any of the possessions of
the United States, or by any local taxing authority.
- 2 -
"The notes will be accepted at par during such time and under
such rules and regulations as shall he prescribed or approved by the
Secretary of the Treasury in payment of income and profits taxes
payable at the maturity of tlie notes,
"The notes will he acceptable to secure deposits of public
moneys, but will not bear the circulation privilege#
"Bearer notes with interest coupons attached will be issued m
denominations of $100,
$500,
$1,000, $5,000, $10,000 and $100,000.
The notes will not be issued in registered form,"
As interest on the notes issued under this circular will accrue from
December 15, 19S4, notes will he delivered hereunder with coupon Ho. 1, dated
December 15, 1934, detached.
Application and Allotment
Applications will be received at the Federal reserve banks and branches
and at the Treasury Department, Washington,
Banking institutions generally
will handle applications for subscribers, but only the Federal reserve banks
and the Treasury Department are authorized to act as official agencies.
The
Secretary of the Treasury reserves the right to close the books as to any or
all subscriptions or classes of subscriptions at any time without notice.
The Secretary of the Treasury reserves the right to reject any sub
scription,
in whole or in part, to allot less than the amount of notes applied
for, to make allotments in full upon applications for smaller amounts and to
make reduced allotments upon, or to reject, applications for larger amounts,
to make classified allotments or to make allotments upon a graduated scale,
or \p adopt any or all of said methods or such other methods of allotment and
classification of allotments as shall be deemed by him to be in the public
interest; and his action in any or all of these respects shall be final.
Sub-
- 3
ject to these reservations, all subscriptions will be allotted in full.
Allotment notices will be sent out promptly upon allotment.
Payment
payment at par for notes allotted hereunder must be made or completed on
or before December 15, 1934, or on later allotment, and may be made only in
2-1/4 per cent Treasury certificates of indebtedness of Series TD-1934,
maturing December 15, 1934, which will be accepted at par, and should accompany
the subscription.
General Provisions.
As fiscal agents of the United States, Federal reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up
to the amounts indicated by the Secretary of the Treasury to the Federal reserve
banks of the respective districts, to issue allotment notices, to receive pay
ment for notes allotted, to make delivery of notes on full-paid subscriptions
allotted, and they may issue interim receipts pending delivery Oj. the definitive
notes.
The Secretary of the Treasury may at any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal reserve banks.
HENRY M0HGB1ITHAU, JR.,
Secretary of the Treasury.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS:
December 3, 1934.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
Week ended November 30, 1934s
San Francisco ............ ........... .
Denver....................................
Total for week ended Nov. 30, 1934....
Total receipts through November 30, 1934....
350.144.96 fine ounces
___ M
"
359.295.96
18,827,000.00
»
«
"
«
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 30, 1934:
Philadelphia ...........................
New Y o r k................... ......... .
Denver..... .............................
New Orleans..............................
Seattle................ .................
Total for week ended Nov. 30, 1934...
Total receipts through November 30, 1934...
14.467.00 fine ounces
59.301.00
5,945.00
271.00
673.00
80,662.00
109,570,000.00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES i
Week ended November 30, 1934:
Philadelphia......................
New T o r k ..... .
San Francisco.....
Denver....,,..,*..
New Orleans.......
Seattle..................
Total for week ended Nov.30,1934
Imports
$
46,525.000.00
12,075.28
70,272.00
$46,607,347.28
New
Secondary
Domestic
204,930.92 $
259.ci.
651,400.00
150,100.00
141,016.55
959,591.15
54,858.00
717,563.00
66.5429,373.8-6
15.855.52
$1,095,434.85
$1,911,955.14!
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Nov. 2 8 ........ .......
Received previously...............
Total to Nov. 28, 1934............
Received by Treasurer’s Office:
Week ended Nov. 28...............
Received previously........ ......
Total to November 28, 1934.... .
Note:
Gold Coin
35,358.04
29,452.222.80
$29,487,580.84
$
$
257.302.00
257,302.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
Gold Certificates
700,010.00
77.511.770.00
$78,011,780.00
$
10,700.00
1,881.500.00
$ 1,892,200.00
TREASURY DEPARTMENT
Washington
December 3, 1934,
MEMORANDUM FOR THE PRESS:
RECEIPTS OP SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
Week ended November 30, 1934:
San Prancisco.
Denver..
Total for week ended Nov, 30, 1934,
Total receipts through November 30, 1934.
350,144.96 fine ounces
9,151.00 "
"
359,295© 96 11
11
18,827,000.00 tt
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 19o4)
Week ended November 30, 1934:
Philadelphia,
New York ........... .
Denver........... ................. .
New Orleans........ ............ .
Seattle....... ...... ................. .
Total for week ended Nov. 30, 1934...
Total receipts through November 30, 1934...
14,467.00 fine ounces
ii
59,301.00 it
ii
it
5,945.00
n
ii
271.00
it
n
678*00
...*~
ii
1
1
80,662.00
ti
n
109,,570,000.00
RECEIPTS OP GOLD BY TEE MINTS AND ASSAY OPPICES:
Week ended November 30, 1934:
Philadelphia ................. .
New York ........ .
*
San
Prancisco
x
Denver......................
New Orleans...... ......... .
S e0 / ttle...
Total for week ended Nov. 30, 1934.
$
Imports
---46,525,000.00
12,075.28
70,272.00
— — —
-— i i. ,i ■ — —
$46,607,347.28
New
Domestic
Secondary
259.21
$ 204,930.92 $
150,100.00
651,400.00
959,591.15
141,016.55
717,563.00
54,858.00
66.54
29,373.86
84.375.24
13.855.52
■
~
c, XU
<4» -t
*1
r r
"1
$1,095,434.85 $1,911,955.1%
q
GOLD RECEIVED BY FEDERAL RESERVE BANKS AIR) THE TREASURERS § OPPICE:
(Under Secretary’s Order of” December 28, 1933)
Received by Pederal Reserve Banks:
Week ended Nov. 28 .......... .
ece i ved proviously
Total to Nov. 28, 1934............
Received by Treasurer’s Office:
Week ended Nov. 2 8 ....... .......
Received previously.,........... .
Total to November 28, 1934.......
Note:
Gold Coin
$
35,358,04
_ 29,452,222.80,
$29,487,580.84
Gold Certificates
700,010.00
77.311,770->00
$78,011,780o00
$
$
$
257.302.00
257.302.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
10,700.00
1,881.500.00
$ 1,892,200.00
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS.
jfoosday, December 4. 1934,
12/3/34
Press Service
3 - 1 3 1
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated December 5, 1934, and
maturing June 5, 1936, which were offered on November 30,
were opened at the Federal reserve banks on December 3
1934.
The total amount applied for was $236,905,000, of
which $76,139,000 was accepted. The accepted bids ranged
in price from 99.900, equivalent to a rate of about 0.20
percent per annum, to 99.885, equivalent to a rate of
0.23 percent per annum, on a hank discount basis. Only
part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be issued
99.889 and the average rate is about 0.22 percent per annum
on a bank discount basis.
"Provided, that after December 1* 1954,
no part of the appropriation aade here-*
in or heretofore aade for the fiscal
year 1955 shall be used to pay the
salary of any person formerly employ
ed as investigator* special agent*
senior warehouseman* deputy prohibi
tion administrator* agent* assistant
attorney* assistant prohibition ad
ministrator* senior investigator*
deputy production administrator*
storekeeper or gauger* or any other
position In the Prohibition Bureau
or Alcoholic Beverage Unit* Depart
ment of Justice* who was separated
from the service of such Bureau or
Unit between June 10* US1* and
December SI* 1933* while in any such
position in the Treasuzy Department*
unless and until such person shall be
appointed thereto as a result of an
open* competitive examination to be
hereafter held by the Civil Sendee
Commission.*
this proviso does not in express terms direct or
require removal from the serviee of the employees includ
ed within its scope* Bor does it* in ay opinion* do so
by implication* The positions occupied by these employ
ees and the salaries appertaining thereto were created
and established under general statutes theretofore en
acted by the Congress*
The proviso does not purport to abolish these
positions* On the contrary* its language dearly indi
cates that the Congress did not intend to abolish them*
It provides only that after December 1* 1934* no part
of the appropriation made under the Act or theretofore
made for the fiscal year 1933* shall be used to pay the
salary of any employee falling within Its provisions
unless and until such employee shall have been appoint
ed to the position occupied b y him as a result of an
open competitive examination thereafter to be held by
the Civil Service Commission.
In view of the foregoing* and since it appears that
the employees involved had been appointed to their positions
y
S
S ' /
g^'/'
.A^a—Qs\^^w j ^
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K
'
!
k
,-w
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I
f*
~S4
-ilo m b w 80* 1954*
1
It
^ ^ J^
The Honorable,
The Secretary of the Treasury*
Sir*
I have the honor to refer to the letter of Act
ing Secretary of the Treasury Oliphant, dated Hoveaber
T8,19S4, wherein ay opinion is requested upon certain
questions arising in connection with the Treasury De
partment's administration of the so-called KcKellar
proviso, contained in the Emergency Appropriation Act,
fiscal year 1955 (eh. 648, 48 Stat* 1061), under the
heading *Bureau of Internal Revenue**
The questions submitted for ay consideration by
the Acting Secretary are as follows*
1*
Does the MeKeilar Proviso require
the Secretary of the Treasury to
remove the class of employees in
cluded within its scope from the
service, either by outright separa
tion or by a partial dismissal in
the fora of a fhrlougjhT
tm If your answer to the first ques
tion is in the negative, is the
Secretary of the Treasury auth
orised by law to continue the em
ployees in question in a duty
status without payt
The proviso does not in express terse direct or
require renewal from the service of the employees in
cluded within its scope* Mor does it, in ay opinion,
do so by implication* The positions occupied by these
employees and the salaries appertaining thereto were
TREASURY DEPARTMENT
Washington
MBMOHAMDOM FOR THE PBESS
November 30, 1934.
Poliowing is text of opinion of the Attorney General received "by the
Secretary of the Treasury today:
“November 30, 1934*
The Honorable,
The Secretary of the Treasury.
Sir:
I have the honor to refer to the letter of Acting Secretary of the
Treasury" Oliphant, dated November 28, 1934, wherein my opinion is requested
upon certain questions arising in connection with the Treasury Departments
administration of the so-called McKellar proviso, contained in the Emergency
Appropriation Act, fiscal year 1935 (ch. 648, 48 Stat. 1061), under the
heading “Bureau of Internal Revenue1-•
The questions submitted for my consideration by the Acting Secretary
are as follows:
1*
Does the McKellar Proviso require the Secretary of the
Treasury to remove the glass of employees included within
its scope from the service, either by outright separation
or by a partial dismissal in the form of a furlough?
2.
If your answer to the first question is in the negative,
is the Secretary of the Treasury authorized by law to
continue the employees in question in a duty status without
pay?
The McKellar Proviso is in these words:
’Provided. That after December 1, 1934, no part of the
appropriation made herein or heretofore made for the fiscal
year 1935 shall be used to pay the salary of any person
formerly employed as investigator, special agent, senior
warehouseman, deputy prohibition administrator, agent,
assistant attorney, assistant prohibition administrator,
senior investigator, deputy production administrator,
storekeeper or gauger,or any other position in the
Prohibition Bureau or Alcoholic Beverage Unit, Department
of Justice, who was separated from the service of such
Bureau or Unit between June 10, 1933, and December 31,
1933, while in any such position in the Treasury
Department, unless and until such person shall be
appointed thereto as a result of an open, competitive
examination to be hereafter held by the Civil Service
Commission.1
~2~
11This proviso does not in express terms direct or require removal from the
service of the employees included within its scope* Hor docs it, in my opinion,
do so hy implication*
The positions occupied hy these employees and the
salaries appertaining thereto were created and established unuer general statutes
theretofore enacted by the Congress*
The proviso does not purport to abolish these positions* On the contrary,
its language clearly indicates that the Congress did not intend to abolish them-.
It provides only that after December 1, 1934, no part of the appropriation rnaue
under the Act or theretofore made for the fiscal year 1935, shall be used to
pay the salary of any employee falling within its provisions unless and until
such employee shall have been appointed to the position occupied by him as^a
result of an open competitive examination thereafter to be held by the Civil
Service Commission*
In view of the foregoing, and since it appars that the employees involved
had been appointed to their positions in the Treasury Department pursuant to
statutory authority at the time of the enactment of the proviso, it is clear
that the proviso does not change or affect their status as employees in the
Treasury Department, except with respect to the payment of their salaries*
Since this is so, it is my opinion that the proviso does not require the
Secretary of the Treasury to remove these employees from the service, either
by outright separation or by a partial dismissal in the form of a furlough*
For the same reasons, and as a necessary corollary, it is my further opinion
that they may be continued in the service in a duty status wichout pay*
The questions submitted by the Acting Secretary are answered ^accordingly,
the first question being answered in the negative and the second in the
affirmative*
Respectfully,
(Signed)
Homer Cummings
Attorney G-eneral •ll
The holders of Treasury certificates of indebtedness of Series
TB-1934
maturing on Deeenber IS* 1934, are nee offered the opportunity of exchanging
their certificates for 18-month 1-1/8 percent, or 4-1/2 year 2-1/8 percent
Treasury notes.
Interest on the public debt to the amount of about
$137,000,000 is payable on December IS, 1934.
The text of the official circulars follow?
m
mm
m
£$ &
—3—
interest accruing
from December
IS, 1934, the notes will be delivered
with coupon Mo* 1, dated December 15, 1934, detached*
applications will be received at the Federal reserve banks and
branches and at the Treasury Department, iashingtcn.
NHKvfi
liiif
Banking institu
tions generally will handle applications for subscribers, but only the
Federal reserve banks and the Treasury Department are authorized to
bsem
®i
gwrfSfcs
try,
i s ®I
m
act as official agencies*
m
Applications for Treasury bonds of 1949-52, and cash applications
for Treasury notes of Series £-1936, unless made by an incorporated bank
or trust company, must be accompanied by payment in
lp$$
fall or
by payment
of five percent of the amount of bonds or notes applied for, and if
payment for bonds or notes is not made or completed on the prescribed
date the five percent payment shall be forfeited to the United States,
upon declaration made by the Secretary of the Treasury in his discretion*
'Exchange applications for Treasury notes of Series £-1936 and for
the additional issue of Treasury notes of Series A-1959 should be accompanied
by Treasury certificates of indebtedness of Series TD-1934, maturing December
15, 1934, tendered in payment*
Subject to the reservations set forth in the official circulars, cash
subscriptions for the bonds or for the notes of Series 1-1936 for amounts
up to and including 110,000 will be given preferred allotment, and other
cash subscriptions
will
be allotted on an equal percentage basis, and
exchange subscriptions for notes of Series £-1936 and
Series A-1939, in
payment of which Treasury certificates of indebtedness of Series XD-1934
are tendered will be allotted in full*
§
2
• -
■ K.: .m i*
before that date.
Treasury notes of Series A-1939 are offered only in exchange for
Treasury certificates of indebtedness of Series TD-1934, maturing December
15, 1934.
They are not offered for cash. These notes will be an addition
to and will form a part of the series of notes issued on June 15, 1934,
n
■
pursuant to Department Circular So* 513, dated June 4, 1934, and are
identical in all respects therewith except that interest on the additional
m
notes issued will accrue from Deember 15, 1934. The notes will bear
Interest at the rate of 2-1/8 percent per annum, payable semiannully on
June 15 and December 15*
They will mature June 15, 1939, and will not be
subject to call for redemption before that date.
As more specifically set forth in the official circulars issued today, the Treasury bonds will be exempt, both as to principal and interest, from
all taxation, except estate or inheritance taxes, surtaxes, excess-profits
and war-profits taxes; the interest on bonds {issued under the Second Liberty
Bond Act) up to
p p
©00 of principal amount under one omership will be
exempt from all taxation; and the Treasury notes will be exempt, both as to
principal and interest, from all taxation except estate or inheritance taxes*
i!
The Treasury bonds will be issued in two forms, bearer bonds with
interest coupons attached, and bonds registered as to principal and interest,
fev-;
H i
■
and in the denominations of $50, $100, f500, $1,000, #5,000, $10,000 and
$100,000*
The Treasury notes will be issued only in bearer form with coupons
attached, and in the denominations of #100, $500, $1,000, $5,000, 110,000
and |100,000* As notes of Series A-1939 are dated June 15, 1934, with
TREASURY
Washington
A iA
RELEASE, MORNING NEWSPAPERS,
Monday. December 3. 1934*
X*
n - T ~ T 7
Secretary of the Treasury Morgenthan today announced that the December
\ financing would consist of an issue of Treasury
/
15 quarterly
bonds and two
\
/
issues of treasury notes, of which bonds and notes to t * total amount of
\
/
about $900,0(50,000 are offered for cash and an additional amount of notes
is offered in W a n g e for Treasury certificates of Indebtedness of Series
TD-1934, maturing December 15• The amount outstanding of these maturing
certificates is #^2,496,500.
/
i * percent are offered only on
Treasury bonds\faring Interest at 3-1/8
cash subscriptions at^par and accrued interest to the amount of #450,000,000,
or thereabouts.
\
J
They are to be 15-18 year bonds, dated December 15, 1934.
\
They will mature December
1952, but may be redeemed at the option of the
United States on and after
r 15, 1949.
An issue of 18-month notes,at 1-1/8 percent Interest is offered for cash
subscriptions to the amount of *450 ,000,000, or thereabouts, and also in exchange
l/
for the maturing certificates.
t
\\
\\
An additional issue/of notes mtiiring in 4-1/2 years, is offered only in
exchange for certificates of Series TD-T934, which mature December 15, 1934.
Treasury notes of Series E-1936 are offered for cash subscription in the
4
amount of about #450,000,000 and in exchange#^ with the right reserved by the
Secretary of the Treasury to increase the offering by an amount sufficient to
accept all subscriptions for which payment is tendered in Treasury certificates
of indebtedness of Series TD-1934.
The notes of Series 1-1936 will be dated
December 15, 1934, and will bear Interest from that date at the rate of 1-1/8
percent per annum, payable semiannually on June 15 and December 15. They
will mature June 15, 1936, and will not be subject to call for redemption
/vy\
"X
3-
jd
National banks held $5,877,988,000 in direct obligations
of the tJnited States on October
17, 1934, the date of the
latest call for their statements of condition, according to
a preliminary compilation made public at the Treasury
Department today by the Comptroller of the Currency, J.
0*Connor*
In addition
T.
the national banks reported holdings
of $ 5 1 8 , 8 ® , 0 0 0 in obligations guaranteed b y the United States
as to principal'and interest and $153,711,000 of obligations
guaranteed by the United States as to interest only,
This
combined total of $6,5 4 8 , 4 » , 0 0 Q is # 5 4 4 , ^ 8 , 0 0 0 greater than
the comparable figure for the June 30$ 1934 call.
The distribution of the security^} holdings of the banks
was as shown below:
TREASURY DEPARTMENT
Washington
For Immediate Release
November 28, 1934.
Press Service
No. 3--6S. 7 0
J. F. T. O'Connor, Comptroller of the Currency, announced today that
funas have been transferred to Detroit to provide for the payment of a fifth
dividend of 20$ to creditors of the First National Bank of Detroit.
Previous dividends paid aggregate 50$, which, together with the dividend
now being distributed, will make a total payment to creditors 0f the subject
bank of 70$.
The checks for the dividend are being prepared by Mr* 3. C. Schram,
Receiver, and will be distributed by him immediately.
Mr. Maher has designed the Gary City Hall and plan for entrance
to City; Womens Athletic Club in Chicago, and several large cooperativ
apartments in Chicago.
TREASURY DEPARTMENT
Washington
Press Service
No • ? *«•“
To secure the best possible designs for buildings authorized
by the recent public building program, the Secretary of the Trea
sury has created an Advisory Committee on Architectural Design to
collaborate with the Public Works Branch of the Procurement Divi
sion.
The Committee as now constituted is composed of the following
members:Aymar Embury, IT, of New York City, N.Y.
Charles Z. Klauder, of Philadelphia, Pa.
Philip B. Maher, of Chicago, 111.
This Committee will review the work of the Supervising Archi
t e c t , that of consulting architects who have been brought to Wash
ington and also the work of private architects having existing con
tracts for public buildings.
It is believed that the constructive
criticisms and suggestions to be obtained from men of national re
pute in the architectural field will be invaluable.
Some of the
outstanding examples of Mr. Embury's work are
collegiate buildings at Princeton, and at Kalamazoo College;
Princeton Club, New York City; Mountain Brook Country Club at Bir
mingham, Alabama;
also consultant for the New York Port Authority,
the Tri-Borough Bridge and for the New York City Park Department.
Mr. Klauder has designed such buildings as the Cathedral of
Learning, University of Pittsburg; buildings for Yale, Princeton,
Cornell, Chicago, Delaware, Colorado Universities; Wellesley,
Franklin and Marshall and Lafayette Colleges.
TREASURY DEPARTMENT
Washington
POE RELEASE, MORTIHG NEWSPAPERS,
llenday, D
e
c
1934.
Press Service
No. 3-71
To secure the best possible designs for buildings authorized by the recent
public building program, the Secretary of the Treasury has created an Advisory
Committee on Architectural Design to collaborate with the Public Works Branch
of the Procurement Division.
The Committee as now constituted is composed of the following members:
Ayraar Embury, II, of New York City-, N.Y.
Charles Z. Klauder, of Philadelphia, Pa.
Philip B. Maher, of Chicago, 111.
This Committee will review the work of the Supervising Architect, that of
consul.ting architects who have been brought to Washington and also the work of
private architects having existing contracts for public buildings.
It is
believed that the constructive criticisms and suggestions to oe obtained from
men of national repute in the architectural field will be invaluable.
Some of the outstanding examples of Mr. Embury’s work are collegiate
buildings at P r i n c e t o n a n d at Kalamazoo College; Princeton Club, New York City;
Mountain Brook Country Club at Birmingham, Alabama; also consultant for the New
York Port Authority, the Tri—Borough Bridge and for the New York City Park
Department.
Mr. Klauder has designed such buildings as tho Cathedral of Learning,
University of Pittsburg; buildings for Yale, Princeton, Cornell, Chicago,
Delaware, Colorado Universities; Wellesley, Franklin and Marshall and Lafayette
Colleges.
Mr. Maher has designed the Gary City Hall and plan for entrance to City;
Women’s Athletic Club in Chicago, and several large cooperative apartments in
Chi cago
d2/u/b<A
~^-JLTtA:G-CB—----3A-t45 A»#.
November 30, 1934.
Acting District Supervisor*
BastzSffiise-Serratng;
•Bo-stoni-MasKaciicise tty:
'
ALL INSTRUCTIONS ADVISING YOU THAT CERTAIN NAMED employees of the alcohol
TAX UNIT HAVE BEEN DROPPED PROM THE ROLLS EFFECTIVE AT THE CLOSE OF BUSINESS
NOVEMBER THIRTY AND REQUESTING YOU TO GIVE THEM NOTICE ACCORDINGLY ARE
RESCINDED STOP YOU ARE DIRECTED IMMEDIATELY TO ADVISE ALL EMPLOYEES AFFECTED
BY THE SOCALLED MCKELLAR PROVISION THAT THEIR NAMES WILL NOT BE DROPPED
FROM THE ROLLS OF THE ALCOHOL TAX UNIT AND THAT THEY MAY ELECT TO REMAIN
IN ACTIVE DUTY STATUS STOP ANY SUCH EMPLOYEES ELECTING TO REMAIN IN ACTIVE
DUTY STATUS HOWEVER SHOULD BE ADVISED THAT THE DEPARTMENT IS WITHOUT FUNDS
TO PAY THEIR COMPENSATION FOR SERVICES RENDERED FROM AND AFTER DECEMBER ONE <
AND THAT THE PAYMENT OF COMPENSATION FOR SERVICES RENDERED FROM AND AFTER
THAT DATE WILL BE DEPENDENT UPON SUCH ACTION AS MAY BE TAKEN BY CONGRESS
STOP IT SHOULD BE MADE CLEAR TO ALL EMPLOYEES AFFECTED BY THE MCKELLAR
PROVISION THAT THEY ARE AT LIBERTY TO APPLY FOR LEAVE WITHOUT PAY FROM AND
AFTER DECEMBER ONE IF UNDER THE CONDITIONS STATED THEY DO NOT DESIRE TO
REMAIN IN ACTIVE DUTY STATUS STOP ACKNOWLEDGE RECEIPT BY WIRE
Approved: By direction of the Secretary,
(Signed) W. H. McReynolds.
Administrative Assistant to the Secretary.
Guy T. Helvering,
Commissioner.
TREASURY DEPARTMENT
Washington
November 30, 1934.
MEMORANDUM FOR THE PRESS:
The following telegram has "been sent to all acting supervisors of the
Alcohol Tax Unit
of the Bureau of Internal Revenue:
November 30, 1934*
Acting District Supervisor:
ALL INSTRUCTIONS ADVISING YOU THAT CERTAIN NAMED EMPLOYEES OP THE ALCOHOL
TAX UNIT HAVE BEEN DROPPED PROM THE ROLLS EFFECTIVE AT THE CLOSE OP BUSINESS
NOVEMBER THIRTY AND REQUESTING YOU TO GIVE THEM NOTICE ACCORDINGLY ARE
RESCINDED STOP YOU ARE DIRECTED IMMEDIATELY TO ADVISE ALL EMPLOYEES AFFECTED
BY THE SOCALLED MCKELLAR PROVISION THAT THEIR NAMES WILL NOT BE DROPPED
FROM THE ROLLS OF THE ALCOHOL TAX UNIT AND THAT THEY MAY ELECT TO REMAIN
IN ACTIVE DUTY STATUS STOP ANY SUCH EMPLOYEES ELECTING TO REMAIN IN ACTIVE
DUTY STATUS HOWEVER SHOULD BE ADVISED THAT THE DEPARTMENT IS WITHOUT FUNDS
TO PAY THEIR COMPENSATION FOR SERVICES RENDERED FROM AND AFTER DECEMBER ONE
AND THAT THE PAYMENT OF COMPENSATION FOR SERVICES RENDERED FROM AND AFTER
THAT DATE WILL BE DEPENDENT UPON SUCH ACTION AS MAT BE TAKEN BY CONGRESS
STOP IT SHOULD BE MADE CLEAR TO ALL EMPLOYEES AFFECTED BY THE MCKELLAR
PROVISION THAT THEY ARE AT LIBERTY TO APPLY FOR LEAVE WITHOUT PAY FROM AND
AFTER DECEMBER ONE IF UNDER THE CONDITIONS STATED THEY DO NOT DESIRE TO
REMAIN IN ACTIVE DUTY STATUS STOP ACKNOWLEDGE RECEIPT BY WIRE
Approved:
By direction of the Secretary,
(Signed) W. H. McReynolds.
Guy T. Helvering,
Commissioner*
Administrative Assistant to the Secretary
in the Treasury Department pursuant to statutory authority
at the tine of the enactment of the proviso, it is dear
that the proviso does not change or affect their status
as employees in the Treasury Department, except with re
spect to the payaent of their salaries*
Since this is so, it is my opinion that the proviso
does not require the Secretary of the Treasury to remove
these employees from the service, either f e y outright separa
tion or fey a partial dismissal in the for* of a furlough. For
the sane reasons, and as a necessary corollary, it Is my
further opinion that they nay be continued in the service in
a duty status without pay*
The questions submitted by the Acting Secretary are
answered accordingly, the first question feeing answered in
the negative and the second in the affirmative*
Respectfully,
Attorney General
♦
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 4, 1934,______
12-3-34.
Press Service
No. 3 - 73
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75,000,000, or thereabouts, of 182-day Treasury bills, dated
December 5, 1934, and maturing June 5, 1935, which were offered on November 30,
were opened at the Federal reserve banks on December 3, 1934.
The total amount applied for was $236,905,000,.of which $75,139,000 was
accepted*. 4 The accepted bids ranged in price from 99.900, equivalent to a rate
of about 0*20 per cent per annum, to 99.885, equivalent to a rate of 0.23 per
cent per annum, on a bank discount basis.
the latter price was accepted.
Only part of the amount bid for at
The average price of Treasury bills to be
issued is 99.889 and the average rate is about 0.22 per cent per annum on a
bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 4, 1934._____
12-3-34
Press Service
No* 3-74*
Secretary of the Treasury Morgenthau announced last night that the
subscription books for the current offering of 3— 1/8 percent Treasury
bonds of 1949-52 closed at the close of business Monday, December 3,
1934.
The subscription books for the offering of 1— 1/8 percent Treasury
notes of Series E-1936 also closed at the close of business Monday,
December 3, for the receipt of cash subscriptions, but will remain
open, together with the subscription books for the 2— l/8 percent
Treasury notes of Series A— 1939, until further notice, for the receipt
of subscriptions for which payment is to be tendered in Treasury
certificcates of indebtedness of Series TD-1934, maturing December 15,
1934.
Cash subscriptions for Treasury bonds or for Treasury notes
of Series E-1936 placed in the mail before 12 o ’clock, midnight,
December 3, as shown by the post office cancellation, will be
considered as having been entered before the close of the subscription
books.
Announcement of the amount of cash subscriptions and the
bases of allotment will probably be made on Thursday, December 6.
December d , 1934*
3-7^
The total domestic coinage executed at the mints during the
month of November, 1934, amounted to 77,716,600 pieces with a value
of $4,976,820.
This compares with a total coinage of 58,216,079
pieces with a value of $3,832,776.50 during the month of October.
In November, 1933, the total domestic coinage amounted to 2,948,000
pieces with a value of #480,280.
jjt
In addition to the domestic coinage, there were executed
o o ™
^
A
2,200,000 pieces for the Governments of Colombia and Nicaragua.
During the entire calendar year 1933, the total domestic coinage
amounted to 23,109,250 pieces, with a value of $13,136,225.
Of this
amount 758,000 pieces were executed in gold with a total value of
#12,035,000.
A detailed list of the coinage executed during November, 1934,
follows:
Silver
Pieces
Standard Silver Dollars
Value
900,000
$900,000.00
Half Dollars
1,944,800
972,400.00
Quarter Dollars
4,738,800
1,184,700.00
Dimes
11,719,000
Total Silver
19,302,600
4,229,000.00
4,092,000
204,600.00
One Cent Bronze
54,322,000
543,220.00
Total Minor
58,414,000
747,820.00
Total Domestic Coinage
77,716,600
4,976,820.00
1,171,900.00
Minor
Five Cent Nickel
COINAGE OTHER THAN UNITED STATES
C o l o m b i a --- Silver - 900
Nicaragua — Nickel "
— Bronze n
__n
_
fine - 50 centavos ~
1,000,000
- 5
"
--200,000
- 1
--500,000
- t
"
--500.000
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, December 4, 1934®
Press Service
No** 3-75®
The total domestic coinage executed at the mints during the month
of November, 1934, amounted to 77,716,600 pieces with a value of
$4,976,820®
This compares with a total coinage of 58,216,079 pieces
with a value of $3,833,776.50 during the month of October.
In-November,
1933, the total domestic coinage amounted to 2,948,000 pieces with a
value of $480,280®
In addition to the domestic coinage,there were executed in the
past month 2,200,000 pieces for the Governments of Colombia and Nicaragua.
During the entire calendar year 1933, the total domestic coinage
amounted to 23,109,250 pieces with a value of $13,136,225.
758,000
Of this amount
pieces were executed in gold with a total value of $12,035,000®
A detailed list of the coinage executed during November, 1934,
follows:
Value
Pieces
Silver
Standard Silver Dollars
Half Dollars
Quarter Dollars
Dimes
900,000
1.944.800
4.738.800
11,719,000
$
900,000.00
972,400.00
1.184.700.00
1.171.900.00
Total Silver
19,302,600
$4,229,000.00
Five Cent Nickel
One Cent Bronze
4,092,000
54.322.000
$
204,600.00
543,220.00
Total Minor
58.414.000
$
747,820.00
Total Domestic Coinage
77,716,600
$4,976,820.00
Minor
COINAGE OTHER THAN UNITED STATES
Colombia
Silver - 900 fine - 50 centavos --- 1,000,000 pieces
Nicaragua — - Nickel - 5
n
--200,000
i
~~ Bronze ~
~ 1
«
'
--500,000
»
--500,000
*'
fi
I'
„ |
'«
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Tuesday, December 4, 1934*
Press Service
No*- 3-76
The results of a study made hy the Public Health Service of the Treasury
Department on the prevalence and prevention of anthraco-silicosis (miners*
asthma) in the anthracite coal regions of Pennsylvania have been transmitted
to the Governor of that State.
Investigation was undertaken at the request of
Governor Gifford Pinchot in 1933.
The Public Health Service had the full cooperation of operators and union
miners.
Three mines were selected for investigation, each representative of
the characteristics of one of the three fields in the Pennsylvania hard coal
region.
As a result of the studies of dust conditions and their effect upon miners*
lungs, a number of recommendations were made.
These recommendations included:
(a)
(h)
(c)
(d)
Provision for adequate ventilation of all work places.
Employment of wet methods in all mechanical drilling operations.
Thorough wetting of all coai and rock before loading.
Substitut ion of mechanical loading for hand loading methods wherever
practicable.
(e) Insistence upon arrangements permitting the lapse of a period of time
sufficient to reduce the dust concentration to a safe limit after firing
charges.
(f) Use of wet methods in processing coal.
The Public Health Service also recommended to Governor Pinchot other
measures to safeguard the health of mine employees which would require State
legislation.
The facts brought out may also be used as a basis for determining
compensation decisions.
Engineering studies ?;ere made by J.J. Bloomfield, Sanitary Engineer and
J.M. Dallavalle, Assistant Sanitary Engineer, the Medical studies by R.R. Jones,
Hissed Assistant Surgeon and Waldemar C. Dreessen,Ibssed Assistant Surgeon, and the
Statistical analysis by Dean K. Brundage, Statistician and Rollo H. Britten,
Senior Statistician
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE,
Wednesday. December 5. 1934.
12/5/34
Press Service
Secretary of the Treasury Morgenthau has announced that
the subscription books for the current offering of 2-1/8 percent
Treasury notes of Series A-1939 will close at the close of
business tomorrow, December 6, 1934. The subscription books for
the offering of 1-1/8 percent Treasury notes of Series E-1936
$
which were closed at the close of business December 3 for the
receipt of cash subscriptions, will also close at the close of
business tomorrow, December 6, for the receipt of exchange subseriptions.
Each of these two note issues
now open for the receipt
of subscriptions for sfaich payment is to be tendered in Treasury
certificates of indebtedness of Series TD-1934, maturing December
15, 1934. Any such subscriptions placed in the mail before
12 o'clock, midnight, December 6, as shown by the post office
cancellation, will be considered as having been entered before
the close of the subscription books.
Announcement of the amount of subscriptions and their
division among the several Federal reserve districts will be
made later.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 5, 1934.
12-5-34.
Press Service
Secretary of the Treasury Morgenthau has announced that the subscription
hooks for the current offering of 2-l/8 percent Treasury notes of Series
A-1939 will close at the close of business tomorrow, December 6, 1934.
The
subscription books for the offering of l-l/8 percent Treasury notes of
Series 1-1936, which were closed at the close of business December 3 for the
receipt of cash subscriptions, will also close at the close of business
tomorrow, December 6, for the receipt of exchange subscriptions.
Bach of these two note issues is now open for the receipt of subscrip
tions for which payment is to be tendered in Treasury certificates of
indebtedness of Series TD-1934, maturing December 15, 1934.
Any such
subscriptions placed in the mail before 12 o'clock, midnight, December 6,
as shown by the post office cancellation, will be considered as having been
entered before the close of the subscription books.
Announcement of the amount of subscriptions and their division among
the several Federal reserve districts will be made later.
-u-
\
.'V
XSSiXX
Location
Date
Frozen Deposits
In Receivership
Illinois
Wyoming
The National Bank of
Total - 5 Banks
11/16
$ 244,000.
$ 815,000.
-3-
zfehoqget^fegferfaiwsflfb.yl
Location
Name of Banks
Date
Alabama
Russellville
First National Bank
11/2 4
$ 208,000.
California
Glendale
First National Bank
11/2
781,000.
Illinois
Lanark
The First Nat*l Bank
11/2
586,000.
Iowa
Newell
First National Bank
11/27
154,000.
New Jersey
West New York
First National Bank
11/50
5,665,000.
Ohio
Paulding
Paulding Nat’l Bank
11/5
581,000.
Oregon
Toledo
First National Bank
11/50
257,000*.
Pennsylvania
Gratz
First National Bank
11/5
414,000.
Tennessee
Jackson
Security National Bank
11/24
441,000.
Total - 9
#6,687,000.
The banks receiving approvals for their reorganization plans daring
the month of November/ are listed below:
Location
Name of Bank
Date
Frozen Deposits
In Conservatorship
California
Coachella
First National Bank
# 255,000.
Utah
Nephi
First National Bank
516,000.
-
2
-
The 1,417 national banks which remained unlicensed when the 1933
banking holiday ended have been disposed of as follows:
1,0 8 4 of these
institutions, involving frozen deposits of $ 1 ,800,062 ,000 , have been
reopened under old or new charters or have been absorbed by going banks 5
30 banks, with $ 1 1 ,204,000 frozen deposits, have quit or withdrawn from
the National System; 295, with $152,699,000 frozen deposits, have been
declared insolvent and placed in charge of receivers, and 8 banks, with
aggregate frozen deposits of $7,163,000, are still unlicensed.
However, every one of the 8 national banks still unlicensed has
received an approved plan of reorganization, and can thus reopen just as
soon as the terms of such approval are met.
In addition 9 insolvent
national banks (which are included in the 295 in receivership), containing
aggregate deposits of $4 ,403 ,000 , have also received approved reorganization
plans from the Comptroller1s Department.
During November, three banks received approved plans of reorganization
from the Comptroller.
Two of these institutions, with total frozen deposits
of $571,000, are unlicensed national banks; while the other, which contains
$ 244,000 frozen deposits, is an insolvent bank.
Below are listed those national banks which were licensed during the
month of November, 1934?
>
r
%
TREASURY DEPARTMENT
Washington
-AETER5IOUN NEWSPAPERS
\Am
Press Service,
ho.
_
£
3
J ^ / f ^ U y L
7
it - Jf- 3 ^
During the month of November, 9 national banks, with frozen deposits
of $6,687,000, were licensed and opened or reopened or absorbed by going
banks, J. F. T. 0*Connor, Comptroller of the Currency, reported today.
Of these, 7 institutions, with deposits of $6,092,000, were unlicensed
national banks in the hands of Conservators; while 2 banks, with $$95,000
deposits, were insolvent national banks in the hands of Receivers.
•The licensing of 9 banks last month brought the number opened or re
opened during the first 11 months of 1934 to 412 national banks, with
$356,496,000 frozen deposits, as shown in the following table:
Month
January
February
March
April
May
June
July
August
September
October
November
No. of National
Banks Li
69
63
55
36
50
40
29
20
15
26
9.
412
By the close of November, the
Frozen
Deposits
I 68,966,000
62.953.000
34.739.000
31.893.000
37.488.000
33.777.000
24.472.000
9.023.000
15.005.000
31.493.000
6.687.000
$356,496,000
of unlicensed national banks in
the United States had been reduced to 8, as contrasted with 1 ,4 1 7
(including
10 state banks and trust companies in the District of Columbia which cane
directly under the Comptroller's jurisdiction) on March 16, 19 33 ___the first
day after the termination of last year's general banking holiday.
TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS
Sunday, December 9« 1934#
12— 5— 34..
Press Service
3— 78
During the month of November, 9 national hanks, witn frozen deposits of
$6,687,000 were licensed and opened or reopened or absorbed by going banks,
J#B.T. 0*Connor, Comptroller of the Currency, reported today.
Of these, 7
institutions, with deposits of $6,092,000 were unlicensed national banks in
the hands of Conservators; while 2 banks, with $595,000 deposits, were insolvent
national banks in the hands of Receivers#
[The licensing of 9 banks last month brought the number opened or reopened
during the first 11 months of 1934 to 412 national banks, with $356,496,000
frozen deposits, as shown in the following table:
Month
No. of National
Banks Licensed
Erozen
Deposits
January
Eebruary
March
April
May
June
July
August
September
October
November
69
63
55
36
50
40
29
20
15
26
9
$ 68,966,000
62,953,000
34,739,000
31,893,000
37,488,000
33,777,000
24,472,000
9,023,000
15,005,000
31,493,000
6,687,000
412
$356,496,000
By the close of November, the number of unlicensed national banks in the
United States had been reduced to 8, as contrasted with 1,417 (including 10
state banks and trust companies in the District of Columbia which come directly
under the Comptroller's jurisdiction ) on March 16, 1933-*—— the first nay after
the termination of last year’s general banking holiday#
The 1,417 national banks which remained unlicensed when the 1933 banking
holiday ended have been disposed of as follows:
1,084 of these institutions,
involving frozen deposits of $1,800,062^000 have been reopened under old or new
charters or have "been absorbed by..going hanks; 30 hanks, with $11,204,000 frozen
deposits, have quit or withdrawn from the National System; 295, with $152,699,000
frozen deposits, have been declared insolvent and placed in charge of receivers,
and 8 banks, with aggregate frozen deposits of $7,163,000 are still unlicensed.
However, every one of the 8 national banks still unlicensed has received
J
an approved plan of reorganization, and can thus reopen just as soon as the
terms of such approval are met.
In addition 9 insolvent national banks (which
are included in the 295 in receivership), containing aggregate deposits of
$4,403,000 have also received approved reorganization plans from the
Comptroller1s Department.
During November, three banks received approved plans of reorganization from
the Comptroller.
Two of these institutions, with total frozen deposits of
$571,000 are unlicensed national banks; while the other, which contains $244,000
frozen deposits, is an insolvent bank.
Below are listed those national banks which were licensed during the month
of November, 1934:
Date
Prozen Deposits
Location
Name of Banks
Alabama
Russellville
Pirst N.B.
11/24/34
$ 208,000
California
Glendale
Pirst N.B.
11/ 2/34
781,000
Illinois
Lanark
The Pirst N.B.
11/ 2/34
386,000
Iowa
Newell
Pirst N.B.
11/27/34
154,000
New Jersey
West New York
Pirst N.B.
11/30/34
3,665,000
Ohio
Paulding
Paulding N.B.
11/ 3/34
381,000
Oregon
Toledo
Pirst N.B.
II/ 30 /34
257,000
Pennsylvania
G-ratz
Pirst N.B.
11/ 3/34
414,000
Location
Name of
Date
Tennessee
Jackson
Security N«B*
IX/34/34
Total 9
Frozen Deposits
$441,000
$6,687,000
The hanks receiving approvals for their reorganization plans during the
month of November are listed helow:
Location
Name of Banks
Date
Frozen Deposits
In Conservatorship
California
Coachella
First N.B«
11/16/34
$255,000
Utah
He phi
First N.B.
11/23/34
316,000
In Receivership
Illinois
Wyoming
The National Bank of
11/16/34
Total 3 Banks
244,000
$815,000
8 ~
•teiiing ana j m m
Thai
m
o f training*
h a v e h e e a a b l e t o go a h e a d i n t h e f a c e o f t h i s and
o t h e r d i f f i c u l t i e s ha®
hmn
p r i n c i p a l l y d u e t o S e c r e t a r y M o r g e u th a u ,
whose e & u r g y , r e s o u r c e fu l* * ® * * & M a a f a i l i n g s u p p o r t o f hi® m® h a r e s a d e
it p o s s ib le - f o r C o a s t iM io it e r H e l v e r in g and m y s e lf t o c o n t in u e t o h a ve
th e s o * t l o y a l c o o p e r a t io n
th e d i f f i c u l t i e s
I have
m
m
o f f i c e and f i e l d no m a tte r how d i s c o u r a g in g
h ad to m eet*
mm
t o t h e end o f t h i s t a l k w ith y o u , b u t I w ant t o
-add j u s t o n e more th o u g h t*
H ie o f a l c o h o l m
p ro b le m s*
a b e v e r a g e a lw a y s has- and a lw a y s w i l l i n v o l v e
B a ch o f n a h a s h i s
om
id e a s a s t o how t o d e a l w ith th e s e *
So matter how divergent our ideas aay 'be, we all agree that SOiETKIMd
mist be done now, today, this year, next year*
fell, we A M
Xou may t h i n k something else ought to be done —
s-oaething different,
son®thing additional*
Ton ®&y be right*
doing things*
But, for the present, the
Treasury Department under the guidance of Secretary iforgeath&u is
aggressive
<m
dodging*
It is not shirking*
a practical, definite, concrete policy.
m y be sure of this*
The Treasury is not
It is fully alive to every angle*
Xou
And, finally, the Department needs your support
and welcome* your counsel*
- ES£» -
«* 7 *
v&mmtMT
A lw a y s
th a t & la r g e share
of
th e r e s p o m s I b i 1 1 1y f a r
r e g e l a t i n g t h e l i q u o r b u s in e s s r e s t® w ith s t a t e and l o c a l g o v e rn m e n ts*
t h e F e d e r a l g o ve rn m e n t c a n n o t do th e w hole jo b *
im p o se t h e i r
om
liq u o r ta x e s , t h e ir
f a c t u r e r s and d e a le r s *
om
S ta te s
m&y
and do
o c c u p a t i o n a l t a x e s on manu
T h e y l a y down t h e i r own r u l e s f o r i n t r a n s t a t e
d i s t r i b u t i o n , r e t a i l i n g , o p e n in g and. c l o s i n g h o u r s , and so f o r t h *
govern**
B u t th e
Sh e a b u s e s o f l i q u o r a r e m i l r e c o g n is e d *
fro m
m
t o u n d e r s ta n d them*
tm
n eed s o t a l k
We, t h e g o v e r n m e n t, an d y o n , th e p e o p le ,
and y o u , th e p e r s o n s e n g a g e d i n th e l i q u o r b u s i n e s s , m i s t c o o p e r a t e t o
m in im is e th e a b u s e s *
The i n t e r e s t s o f a l l o f u® dep end upon i t *
I w ant t o p a y t r i b u t e
t o th e fin © s p i r i t and s e a l o f th e c o r p s
o f g o ve rn m e n t men s h e a r e w r e s t l i n g w ith l i q u o r r e g u l a t i o n *
I s p e a k n o t o n ly o f th e
mn
in
th e A l c o h o l T a x b a i t and t h e
B u re a u o f I n t e r n a l R even u e an d o t h e r a g e n c i e s o f th e T r e a s u r y D epart**
m e a t , b u t a l s o o f t h o s e i n th e D e p a rtm e n t o f J u s t i c e and th e F e d e r a l
A l c o h o l C o n t r o l A d m in ie t r a t lo n *
A$1 h a v e been w o rk in g l o y a l l y and
w ith th e f i n e s t c o o p e r a t io n and a c c o m p lis h in g much i n t h e f a c e o f g r e a t
d iffic u lt ie s *
I n t h e A l c o h o l T ax C u l t
p r o v is io n in
1400
mm
m
m
h a v e been s e r i o u s l y ham pered b y a
a p p r o p r i a t io n a c t w h ich r e q u ir e d t h e e n t i r e f o r c e o f
e n g a g e d i n f i g h t i n g i l l e g a l l i q u o r t o t a k e new C i v i l S e r v i c e
e x a m i n a t i o n s , d e s p i t e th e f a c t t h a t t h e y a lr e a d y h ad C i v i l S e r v i c e
Mtyrfb members of the
There are a
* e t t e r super*
vision, ]m*T wilJKbe eliminated*
The Federal
This mkM® it m
%m on
distilled spirits i© #M*QO per gallon*
cents a qrnrt.
per gallon, or
seats a q w r t #
la pre-prohibition days it was $1*10
The present tax, therefore, is g$$
cents .per quart sore than in pre-prohibition days*
Internal leveaue
taxes fro® liquor in the present fiscal year are estistated at a little
under $400,000,000, divided about equally between distilled spirits and
boar*
The revenue fro® wine is relatively small*
S o m people think the federal tax rale ought to be reduced.
Their srguaeat Is that this will stop bootlegging*
My feeling is that
w® hare a&de big inroads on bootlegging with the present tax rates,
and that eventually ee shall co m # close to & topping xt en tirely*
Revenues are rising, the quality of legal liquor is Improving, and
p ric e s are going clown*
fro® the stan d p oin t of an e f f i c i e n t mixorcessent
of the revenue laws, I see no imperative need for lowering the .federal
tax at this time*
Some people argue for a lower tax rate on the ground that
it will increase consumption of distilled liquor*
abolished
As a nation we have
prohibition because a majority thought it m m unworkable.
But as a nation surely wu are not ready to have our goveruffiant deliberate!]
adopt a policy which will increase the consumption of distilled spirits*
This would he contrary to the- experience of all nations sad all governsen is which have wrestled with this problem,
a n d A m e rica n c o n s u la r o f f i c e r ©
i n the- m a r itim e p r o v in c e s o f C a n a d a ,
C e n t r a l A m e r ic a and t h e B e s t l a d i e s *
t h e b o o t l e g p ro b le m i s
s t i l l w ith u s , b u t
The D e p a rtm e n t fern© e v e r y c o n f i d e n c e t h a t
m
m
a re s o lv in g i t *
s h a l l red u ce I t
to
&
r e a s o n a b le minimum* a n d , w ith t h e s u p p o r t o f C o n g r e s s an d th e p u b l i c ,
p e r h a p s e v e n t o a p p r o x im a t e ly s h a t i t
» ,§ i n
th e p r © -p .r o h iM tio s i e r a *
B u t th e l i q u o r p ro b le m i s b i g g e r th a n th e b o o t l e g p ro b lem *
th e le g a lis e d
p h a s e s o f t h e l i q u o r b u s in e s s m u st fee s t r i c t l y r e g u l a t e d
by t h e g o v e rn m e n t t o p r e v e n t i l l e g a l o p e r a t i o n s , t o p r e v e n t f r a u d and
g r a f t and p o l i t i c a l c o r r u p t i o n , t o p r o t e c t th e p u b l i c w e lf a r e *
latory work t o p r o t e c t th e F e d e r a l r e v e n u e s I s
R egu
a p a r t o f th e tr e a s u r y * s
function*
The T r e a s u r y c o l l e c t s th e t a 3s.es, an d im p o s e s c e r t a i n r u l e s ,
r e g u la tio n s
mxl
r e s tr ic t io n s
a d d it io n th e r e i s
w h ich i n s u r e o r d e r l y p ro c e d u re *
th e f e d e r a l A l c o h o l C o n t r o l A d m i n i s t r a t i o n , com m only
known a s FAC A , h e a d e d b y J o s e p h B* C h o a t e , J r *
o f s p e c i a l i s e d MBA f o r th e l i q u o r In d u s tr y *
’T h is FACA i s a s o r t
I t r e g u l a t e s th e BB& XiSSS
o f l i q u o r m a n u fa c tu r e and s a l e , a s d i s t i n g u i s h e d
in g fe a tu r e s *
In
from,
th e 'ta x c o l l e c t
I t i s d o in g e x c e l l e n t r e g u l a t o r y work and d e s e r v e s th e
s u p p o r t o f a l l good c i t i z e n s *
t h e r e a r e c l o s e w o rk in g a r r a n g e m e n ts
betw een i t and th e T r e a s u r y *
TXnr*g$WHS£
-waived I n t h e 3 k c ^ b r b u s in e s s — m a n u fa c tu r e r * # i m p o r t e r s , w h o le s a le
d e a l e r s , an d r / % . t i e r s o f a l c o h o l i c feever& g
a s w e ll a s t h o s e ifco
u s e a l C G h o J / f o r c ^ a e r c i a l o r i n d u s t r i a l p u rp o s e s *
A l l a re s u b je c t
***
fh©
court# are giving the finest hind of help*
Arrest#
for ■violation of liquor l a m are f e w than under prohibition, but fines
and seatraces are stiffer*
80*
much of our liquor supply is illegal?
able figures*
There are no depend
dome people tore estimated the proportion as 50$ #
The
Department has reasons for being sure that this estimate is grossly
exaggerated*
the Dry states, of which there are now thirteen, need special
attention*
The 21st amendment, by which the 13th amendment was repealed,
specifically provides a m & m to - of Federal protection for the dry states*
Subsequently new federal legislation w m enacted to prohibit importation
of liquors .into dry states in violation of the l a m of the states*
Un
fortunately funds have not 'been provided to make this law fully effective*
It is hoped that they will foe provided by the next Congress#
the Treasury is doing its beet*
It imposes m any manufacturer o r dis
tributor of liquor within a dry state & tax of $1*000*
in Its intent*
But meanwhile
This Is prohibitive
At the & $ x % session of Congress the treasury expect# to
ask specific authority to enforce the
2 1 st
amendment?!.2 provisions with
regard to transportation of liquor into dry states*
The Secretary of the Treasury has established a high degree
o f
coordination of various agencies dealing with liquor within the Treasury
Department*
This includes the Bureau of Internal Ee venue, the Coast
Guard, the Customs Service, the Bureau of Sartotic#, and the Secret
Service*
In fighting smuggling ae also have th# cooperation of the
Immigration Service of th# Department o f Labor, the Canadian government,
they have m i l serrod their purpose — r to identify honest liquor in the
eyes of the eoasaning public*
m
h u m r e g u l a t e d th e s a l e o f toot t i n s and o t h e r c o n t a i n e r s .
Bsnttf&chorers of these report their sales, their shipments*
bottle h m blown Isto it, a number design*ting the
the mu&er of the liquor, m 4 a m e m lag against reuse.
Every
of the bottle,
Thus the supply
Bottle* once used m y
of cantairere for illegal liquor is cut off*
mot he used again-*
L iq u o r i s
made w ith a e e r t a l La l im i t *
s u c h a s s u g a r s , s y r u p s , stol&se* i s , eoai*n m e a l.
a r e now e n f o r d a iF a r « -
X&.vt vdrlo h
pea? » i t * u s
o f thee© e o s a o d i t t l s s , and. on tl be s a le m w h ich
Into Illegal liquor.
With the help of the producer® themselves, the
purchase of commodities which might go into illegal liquor h m been cut
do«n tr#sasdously*
Secretary Morgenthen, has concentrated the Department16 forces
against snuggling*
In pre^-repeaX day# it '<y ssblssated that ^0,00-0,000
gallom? of liquor m s smuggled into this country annually.
been reduced to perhaps 5$ of the old amount.
cooperating splendidly#
This has
Canadian authorities are
$ssuggling now is pretty such limited to raw
alcohol, manufactured in the test Indies*
This alcohol is used aataly
in the m^iitofoctur# Of cheap Imitation illegal liquor*
There is now
practically no snuggling of finished whiskey.
Prices of bootleg liquor hare gone up in siost localities since
Qtir euforce&sent efforts were suerted, thus shoeing that *e ere gradualXy
asking it sore difficult- for the bootlegger*
agm m
they m y m k e solely to those dealers or agencies %hich have been
d u ly lic e n s e d by S t ^ t e
or
F ed eral I le u s e s * *
Furthermore, President Roosevelt @aldi
mo
#X ask especially that
S t a t e s h a l l b y la w o r ©tfeejns&se a u t h o r i s e th e r e tsu m o f t h e s a l o o n ,
either in It S' old form or in somio modern .sspjiise,^
On o t h e r e v i l s o f th e s y s t e m , th e P r e s i d e n t s a i d t h i s *
p o l i c y o f th e G o vern m en t w i l l , be t o s e e t o i t
t h a t th e s o c i a l and p o l i t i c a l
e v i l s t h a t h a v e e x i s t e d l a th e p r e - p r o h i b i t i o n e r a s h a l l
p e r m it t e d a g a i n t o e x i s t *
m enace o f th e b o o t l e g g e r
f e m u st rem ove f o r e v e r
m&
»Th©
not
from our
be r e v i v e d o r
m id s t th e
s u c h o t h e r s a s w ould p r o f i t a t t h e e x p e n s e o f
good g o v e r n m e n t, la w &&4 o r d e r # n
MoWg a year later, I nay t # y o u that the federal government has
w orked a lo n g p r e c i s e l y t h e s e l i n e s , -th a t i t I S w o rk in g a lo n g t h e s e l i n e s ,
a n d t h a t I t w i l l &03TXJIOII t o work a lo n g t h e s e l i n e s *
First, let's talk about shat the Treasury Bepertmeab has don®
and is doing to curtail bootlegging and illegal traffic*
Instead of picking sway at little violators, it is the policy of
Secretary lorgeathau t o go after the big fellows, after the big sources
of the Illegal supply.
We have put red-strip stamps around the m o m
legal tax-paid liquors*
bees .paid*
o f bottles of
Bottles bearing 'this stamp are legal, the tax has
While there has been m m
counterfeiting of these strip stamps
R a d io a d d r e s s of A rth w jf X* M e l l o t t , D e p u ty C o m m iss io n e r
o f I n t e r n a l R even u e l a c h a r g e o l k t h e A l c o h o l ’Tax b a i t , F r i d a y
evening, December 7, XS54 at
A year has passed since prohibition,
mis
abolished*
tonight I want to discuss with you frankly what has been done
during the year and what remains to be done*
P l e n t y o f p ro b le m s rem a in *
e v e r y t h in g *
The g o vern m en t h a s n o t s o lv e d
The g o v e rn m e n t n e e d s y o u r h e l p , a s a n i n d i v i d u a l e t t i s e u ,
a n d y o u r u nder# t e n d in g o f t h e d i f f i c u l t i e s *
lit e r
a l l 'they a r e y o u r
p ro b le m s and d i f f i c u l t i e s , and t h e g o ve rn m e n t i s m e r e ly y o u r a g e n t *
from
& f e d e r a l s t a n d p o i n t , many
t h e T r e a s u r y D e p a r tm e n t,
of
t h e s e p ro b le m s b e lo n g t o
d u t y i t i s t o c o l l e c t th e :t a x e s and to
s u p e r v i s e c e r t a i n r e g u l a t o r y m e a su re s f o r
she l i q u o r b u s in e s s *
I &»
s p e a k in g t o y o u t o n i g h t a# a r e p r e s e n t a t i v e o f t h a t D ep ar t& e n t*
problems*
Some Ijiiagf^jaa be done, end some t h i n g s W ^ a O t be done,
even though you §Ji^ I wish they could be done*
1° do, how to do
it. and how fast t o \ p in doing it - these are our problems*
l*rflW rt&,o«|Sittwiaa^ :K^ sssa!iiua(sijlMsa^ ^
It is easy to get confused in conflicting ideas on how to
regulate the liquor business.
I n order to establish some base of
operations for our discussion tonight, let me quote President Roosevelt’s
proclamation of repeal of the 18th amendment a year ago, on December 5,
m
He saidi
***** X enjoin upon all citiseas of the baited States »
to cooperate with the government in its endeavor to restore greeter re*
spect for law end order, b y confining such purchase© of alcoholic bever*
TREASURY DEPARTMENT
Washington
Press Service
No. 3 -l°l
Release, Morning Newspapers
December
8, 1934
IIIIW.M-Inig '*'■ / ■—
1■
'■ ■■ m
ummm
12/5/34
For
1
L
JL*..r \
Following is the text of a radio address to be delivered Friday
;X
k
evening, December 7, 1934, through Station WRC and a nation-wide hook up
of the National Broadcasting Company, by Arthur J. Mellott, Deputy Com
missioner of Internal Revenue in charge of the Alcohol Tax Unit of the
United States Treasury Department.
It is released for publication
without further notice after delivery has begun, which will be at 7:00 P.M.
Friday, December 7th.
* 4
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday* December 8* 1934*_____
13-6-34.
Press Service
• 3— 79
Following is the text of a radio address to be delivered Friday evening,
December 7, 1934, through Station WRC and a nation-wide hook-up of the National
Broadcasting Company, "by Arthur J* Mellott, Deputy Commissioner of Internal
Revenue in charge of the Alcohol Tax Unit of the United States Treasury Depart
ment*
It is released for publication without further notice after delivery has
begun, which will be at 7*00 P*M* Friday, December 7 th*
A year has passed since prohibition was abolished*
Tonight I want to discuss with you frankly what has been done during the
year and what remains to be done*
Plenty of problems remain*
The Government has not solved everything*
The
Government needs your help, as an individual citizen, and your understanding of
the difficulties.
After all they are your problems and difficulties, and the
Government is merely your agent*
From a Federal standpoint, many of these problems belong to the Treasury
Department, whose duty it is to collect the taxes and to supervise certain
regulatory measures for the liquor business*
I am speaking to you tonight as a
representative of that Department*
It is easy to get confused in conflicting ideas on how to regulate the
liquor business*
In order to establish some base of operations for our discussi
tonight, let me quote President Roosevelt's proclamation of repeal of the 18th
amendment a year a g o r on December 5, 1933*
He said: n*** I enjoin upon all citizens of the United States • *• to
cooperate with the Government in its endea,vor to restore greater respect for
law and order, by confining such purchases of alcoholic beverages as they may
make solely to those dealers or agencies whi ch have been duly licensed by State
or Federal licenses*1*
Furthermore,. President Roosevelt saidi
**I ask especially that no State
shall by law or otherwise authorize the return of the saloon, either in its old
form or in some modern guise*11
~2~
On other evils of the system, the President said this!
"The policy of the
Government will he to see to it that the social and political evils that have
existed in the pre-prohibition era shall not he revived or permitted again to
exist.
We must remove forever from our midst the menace of the bootlegger and
such others as would profit at the expense of good government, law and order."
How, a year later, X say to you that the Federal Government has worked
along precisely those lines, that it IS working along those lines, and that it
will
CONTINUE to work along these lines.
First, let's talk about what tho Treasury Department has done and is doing
to curtail "bootlegging and illegal traffic.
Instead of picking away at little violators, it is the policy of Secretary
Morgenthau to go after the big fellows, after the big sources of the illegal
supply.
We have put red-strip stamps around the necks of bottles of legal tax-paid
liquors.
Bottles bearing this stamp are legal; the tax has been paid.
Whilie
there has been soma counterfeiting of these strip stamps, they have well served
their purpose —
to identify honest liquor in tho eyes of the consuming public.
We have regulated tho sale of bottles and other containers.
of these report their sales, their shipments.
Manufacturers
Every bottle has blown into it
a number designating the maker of the bottle, the maker of the liquor, and a
warning against reuse.
off.
Thus the supply of containers for illegal liquor
Bottles once used may net "bo used again.
liquor is made with a certain limited number of commodities, such as sugars,
syrups, molasses, corn meal, cider and oak chips.
We are now enforcing a new
law which permits us to check on the producers of these commodities, and on the
sales which may be suspected of going into illegal liquor.
With the help of the
producers themselves, the purchase of commodities which might go into illegal
Xiqpor lias "been cut dovm tremendously.
Secretary M 0rgenthau has concentrated the Department's forces against
smuggling.
In pre-ropeal days it was estimated that 20,000,000 gallons of
liquor was smuggled into this country annually.
perhaps 5$ of the old amount.
This has "been reduced to
Canadian authorities are cooperating splendidly.
Smuggling now is pretty much limited to raw alcohol, manufactured in the West
Indies.
This alcohol is used mainly in the manufacture of cheap imitation
illegal liquor.
There is now practically no smuggling of finished whiskey.
Prices of "bootleg liquor have gene up in most localities since our enforce
ment efforts -were, started, thus showing that we are gradually making it more
difficult for the "bootlegger.
The Federal courts are giving the finest kind of help.
Arrests for viola
tion of liquor laws arc fewer than under prohibition, "but fines and sentences
are stiffen*
How much of our liquor supply is illegal?
There are no dependable figures.
Some people have estimated the proportion as 50$.
The Department has reasons
for being sure that this estimate is grossly exaggerated*
The dry states, of which there are now thirteen, need special attention.
The 21st amendment, by which the 18th amendment was repealed, specifico.lly
provides a measure of Federal protection for the dry states.
Subsequently
new Federal legislation was enacted to prohibit importation of liquors into dry
states in violation of the laws of the states.
been provided to make this law fully effective.
provided by the next Congress.
Unfortunately funds have not
It is hoped that they will be
But meanwhile the Treasury is doing its best.
It imposes on any manufacturer or distributor of liquor within a dry state a
tax of $1,000.
This is prohibitive in its. intent.
At the next session of
Congress the Treasury expects to ask specific authority to enforce the 21st
amendment *s provisions with regard to transportation of liquor into dry states.
The Secretary of the Treasury has established a high degree of coordination
of various agencies dealing with liquor within the Treasury Department.
This
includes the Bureau of Internal Revenue, the Coast Guard, the Customs Service,
the Bureau of Narcotics, and the Secret Service.
In fighting smuggling we
also have the cooperation,' of the Immigration Service of the Department of La or,
the Canadian Government, and American consular.officers in the maritime provinces
of Canada, Central .America and the West Indies.
The hootleg problem is still with us, but we are solving it.
The Department
has every confidence that we shall reduce it to a reasonable minimum, and, with
the support of Congress and the public, perhaps even to approximately what it
was in the pre~prohit)ition era.
But the liquor problem is bigger than the bootleg problem.
The legalized
phases of the liquor business must be strictly regulated by the Sovernment to
prevent illegal operations, to prevent fraud and graft .and political corruption,
to protect the' public welfare.
Eegulatory work to protect the Federal revenues
is a part of the Treasury*s function*
The Treasury collects the taxes, and imposes certain rules, regulations
and restrictions which insure orderly procedure.
In addition there is the
Federal Alcohol Control Administration, commonly known as FACA, headed by
Joseph H. Choate, Jr.
industry.
This FACA is a sort of specialized SEA for the liquor
It regulates the BtJSIHBSS of liquor manufacture and sale, as
distinguished from tho tax collecting features.
It is doing excellent
regulatory work end deserves tho support of all good citizens.
There are close
working arrangements "between it and tne Treasury.
The Federal tax on distilled spirits is $2.00 per gallon.
50 cents a quart.
cents a quart.
This makes it
In pro-prohibition days it was $1.10 per gallon, or «72
The present tax, therefore, is 2 $ cents per quart more than in
pre-prohibition days.
Internal Eevonue taxes from liquor in the present fiscal
year arc estimated at a little under $400,000,000 divided about equally between
distilled spirits and beer.
Tho revenue from wino is relatively small.
Some people think tho Federal tax rate ought to ho reduced.
argument is that this will stop bootlegging.
Their
Vy feeling is that we have made
big inroads on bootlegging with the present tax rates, a n d ‘that eventually
vre shall come close to stopping it entirely,
Revenues are rising, the quality
of legal liquor is improving, and prices are going down.
From the standpoint
of an efficient enforcement of the revenue laws* I see no imperative need for
lowering the Federal tax at this time.
Some people argue for a lower tax rate on the ground that it Jill increase
consumption of distilled liquor.
As a nation we have abolished prohibition
because a majority thought it was unworkable.
But as a nation surely we are not
ready to have our Government deliberately adopt a policy which will increase
the consumption of distilled spirits.
This would be contrary to the experience
of all nations and all governments which have wrestled with this problem.
Always remember that a large share of the responsioility fo* regulating the
liquor business rests with state and local governments.
cannot do the whole job.
The Federal Government
States may and do impose their own liquor taxes,
their own occupational taxes on manufacturers and dealers.
They lay aown their
own rules for intra-state distribution, retailing, opening and closing nours,
and, so forth.
The abuses of liquor are well recognized.
understand them.
You need no talk from me to
We, the Government, and you, the people, and you, the persons
engaged in the liquor business, must cooperate to minimize the abuses.
The
interests of all of us depend upon it.
I want to pay tribute to the fine spirit and zeal of the corps of Government
men who are wrestling with liquor regulation.
I speak not only of the men in the Alcohol Tax Unit and the Bureau of
Internal Revenue and other agencies of the Treasury Department, but also of
those in the Department of Justice and the Federal Alcohol Control Administration
All have been working loyally and with the,finest cooperation, and accomplish
ing much in- the face of great difficulties.
In the Alcohol Tax Unit we have been seriously hampered by a provision
in an appropriation act which required the entire force of 1400 men engaged
~6'
in fighting illegal liquor to take new Civil Service examinations, despite the
fact that they already had Civil Service standing and years of training*
That we have "been ahle to go ahead in the face of this and other difficul
ties has "been principally due to Secretary Morgenthau, whose energy, resource
fulness and unfailing support of his men have made it possible for Commissioner
Helvering and myself to continue to have the most loyal cooperation in office
and field no matter how discouraging the difficulties we had to meet#
I have come to the end of this talk with you, hut I want to add just one
more thought:
Use of alcohol as a beverage always has and always will involve problems#
Each of us has his own ideas as to how to deal with these#-
Ho matter how
divergent our ideas may be, we all agree that SOMETHING- must b e .done now, today,
this year, next year#
Well, we AES doing things#
else ought to be done —
right#
You may think something
something different, something additional•
You may be
But, for the present,, the Treasury Department under the guidance of
Secretary Morgenthau is aggressive on a practical, definite, concrete policy#The Treasury is not dodging#
angle#
It is not shirking#
You may be sure of this#
It is fully alive to every
And,, finally, the Department needs your
siipport and welcomes your counsel#
* EHD *
-
2-
account and will be transferred monthly to the appropriate Collector
of Internal Revenue for an assessment and listing as compensating
tax collections.
Such transfers will he accompanied by a certified
statement containing a statistical analysis of the collections for use
in the Agricultural Adjustment Administration.
There is a provision in this Treasury decision (
ill
iitTHiiii
) *wihAah«*
that if the aggregate compensating tax due on a shipment
does not exceed 25#, the tax may, under certain circumstances, be
disregarded,T
There is also a provision jghioh jjwpywjfles for the
liquidation of the customs entry where the amount deposited on account
of thejcompensating tax does not differ by so much as one dollar from
the aggregate compensating tax ascertained to be due, the difference
disregarded.
Somewhat similar provisions have been followed
by the Bureau of Customs for a number of years.
It is believed that the new method will accomplish an efficient
and economical collection of the compensating tax while at the same
time it will expedite the ordinary flow of inport commerce.
Collectors of Customs are equipped to ascertain and verify the taxable
content of imported merchandise and are able to make the proper
determination of liability expedi|jjously.
This Treasury decision amends Chapter 4 of Regulations 81,
relating to the compensating tax imposed upon imported articles
by Section 15(e) of the Agricultural Adjustment Act.
3
file transfer of the assessment and collection of the com
pensating tax on commodities iaported into the United States or
its possessions subject to such a tax from the Bureau of Internal
Revenue to the Bureau of Customs was approved yffjflhrrrtsy, December
4f by the dtffcfeflg Secretary of the Treasury^
Taxable articles now include those processed or manufactured
wholly or partly from a commodity t and imported (whether as mer
chandise, or as a container of merchandise, or otherwise) into
the United States
ai
amy possessionjttwfiaaf to which the Act
applies with respect to such commodity, from any foreign country
or from any possession of the United States to which the Act does
not apply with respect to such
-flit]- Jj,m ■ frniimiMn. if at the
time of etteh importation a processing tax is in effect with respect
to the commodity from which the article has been
processed or
manufactured.
The compensating tax will be collected by collectors of customs
substantially in the same manner as duties but separately, however,
from duties.The imported merchandise may be entered under bond upon
the deposit by the importer of an amount equal to the estimated
aggregate compensating tax.
In the subsequent liquidating of the
customs entry, the compensating tax due will be ascertained and
liquidated by the Collector of Customs.
The funds so collected
t>y the Collector of Customs will be held in a special deposit
6
TREASURY DEPARTMENT
Washington
foe
hhlbasi,
Press Servioe
Thursday, December 6, 1934.
I>Io<
The transfer of the assessment and collection of the compensating tax on
commodities imported into the United States or its possessions subject to such
a tax f2 om the Bureau of Internal Revenue to the Bureau of Customs was approved
December 4, by the Secretary of the Treasury*
Taxable articles now include those processed or manufactured wholly or
partly from a commodity, and imported (whether as merchandise, or as a container
of merchandise, or otherwise) into the United States or one of its possessions
to which the Act applies with respect to such commodity, from any foreign
country or from any possession of the United States to which the Act does not
aPPly witn respect to such commodity, if at the time of importation a processing
tax is in effect with respect to the commodity from which the article;-hias been
processed or manufactured*
The compensating tax will be collected by Collectors of Customs substan
tially in the same manner as duties but separately, however, from duties.
The
imported merenandise may be entered under bond upon the deposit by the importer
of an amount equal to the estimated aggregate compensating tax:.
In the subse
quent liquidating of the customs entry, the compensating tax due will be
ascertained and liquidated by the Collector of Customs.
The funds so collected
by the Collector of Customs will be held in a special deposit account and will be
transferred monthly to the appropriate Collector of Internal Revenue for an
assessment and listing as compensating tax collections*,
Such transfers will be
accompanied by a certified statement containing a statistical analysis of the
collections for use in the Agricultural Adjustment Administration.
There is a provision in this Treasury decision that if .the aggregate
compensating tax due on a shipment does not exceed 25^, the tax may, under
certain circumstances, be disregarded.
There is also a provision for the
liquidation of the customs entry where the amount deposited on account of the
compensating tax does not differ by so much as one dollar from the aggregate
compensating tax ascertained to he due, the difference being disregarded.
Somewhat similar provisions have been followed by the Bureau of Customs for
a number of years.
It is believed that the new method will accomplish an efficient and
economical collection of the compensating tax while at the same time it will
expedite the ordinary flow of import commerce.
Collectors of Customs are
equipped to ascertain and verify the taxable content of imported merchandise
and are able to make the proper determination of liability expeditiously.
This Treasury decision amends Chapter 4 of Xegulations 81, relating to
the compensating tax imposed upon imported articles by Section 15 (e) of the
Agricultural Adjustment Act.
m m m a BmumraT
WASHINGTON
FOR M
S
Thursday.
/\ 18/6/S4
HE&SA3B, fK*r
December ^ 1084
L9S4.
T ”
U P*WW
h
*
Pre
“
ce
I
Secretary of the Treasury Morgenthan today announced the subscription
figures and the basis of allotment for the December 15 sash offering of 5-1/8
percent Treasury bonds of 1940-62 and 1-1/8 percent Treasury notes of Series
1.1956.
Reports reoeired from the federal reserve banks show that subscriptions for
the offering of Treasury bonds* which was for #450*000,000, or thereabouts,
aggregate over #2,500,000,000. Subscriptions in amounts up to and including
#10,000 were allotted in full and those in amounts over #10,000 were allotted
18 percent, but not leas than #10,000 on any one subscription.
For the cash offering of Treasury notes, which was for #450,000,000, or
thereabouts, subscriptions aggregate over #3,000,000,000. Cash subscriptions
in amounts up to and including #10,000 were allotted in full, and those in
amounts over #10,000 were allotted 14 percent, but not less than #10,000 on
any one subscription.
As previously announced, the subscription books for the 8-1/8 percent
Treasury notes of Series A-1939, and for the 1-1/8 percent Treasury note# of
Series 5-1956, ^li~"trloe»1m
i
for the receipt of subscriptions in payment
for which certificates of indebtedness maturing December 15 are tendered,
further details as to subscriptions and allotments will be announced
when final reports are received from the federal reserve banks
TREASURI DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Fr iday. ;December* 7, 1934*
12—6— 34* "
Press Service
No* 3**81
Secretary of the Treasury Morgenthau today announced the subscription
figures and the basis of allotment for the December 15 cash offering of
3-*l/8 percent.Treasury bonds of 1949— 52 and 1-1/8 percent Treasury notes of
Series E-1936*
Reports received from the Federal reserve banks show that subscriptions
for the offering of Treasury bonds, which was for $450,000,000, or thereabouts
aggregate over $2,300,000^000*
Subscriptions in amounts up to and including
$10,000 were allotted in full and those in amounts over $10,000 were allotted
18 percent-, but not less than $10,000 on any one subscription*
For the cash offering of Treasury notes, which was for $450,000,000, or
thereabouts, subscriptions aggregate over $3,000,000,000*
Cash subscriptions
in amounts up to and including $10,000 were allotted in full, and those in
amounts over $10,000 were allotted 14 percent, but not less than $10,000 on
any one subscription*
As previously announced, the subscription books for the S^l/8 percent
Treasury notes of Series JW1939, and for the 1—1/8 percent Treasury notes of
Series E-1936, closed last night for the receipt of subscriptions in payment
for which certificates of indebtedness maturing December 15 are tendered*
Further details as to subscriptions and allotments will be announced when
final reports are received from the Federal reserve banks*
T
3
The total civil liability involved in 104 cases during the
month of November, 1934, where passengers failed to declare merchan
dise acquired abroad amounted to $80f880.58, it was reported to the
Bureau of Customs of the Treasury Department.
One half of the amount collected represented the forfeiture
value of merchandise and the other half the personal penalties.
These cases represent only those which were reported to the Bureau
during November,
"^Mdo^gf not include cases which might have arisen
during the month which have not yet been reported.
The largest single seizure was a case where 3,796 assorted watcl
movements and a number of loose diamonds taken from Aaron El ^
Travitsky upon his arrival at the Port of New York as a passenger
on the SS CHAMPLAIN^
9*
Another case was reported where the chauffeur for a party
attempted to bring in merchandise belonging to his employer under
his $100 personal exemption.
in recent weeks.
This is the third such case reported
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, December 10, 1934*
Press Service
No* 3-*82
The total civil liability involved in 104 cases during the month of
November, 1934, where passengers failed to declare merchandise acquired
abroad amounted to $80,880*58, it was reported to the Bureau of Customs
of the Treasury Department*
One half of the amount collected represented the forfeiture value of
merchandise and the other half the personal penalties.
These cases represent
only those which were reported to the Bureau during'November*
They do not
include cases.which might have arisen during the month which have not yet
been reported*
The largest single seizure was a case where 3,796 assorted watch
movements and a number of loose diamonds were taken from Aaron Ely Travitsky
upon his arrival at the Port of' New York as a passenger on the SS* CHAMPLAIN*
Another case was reported where the chauffeur for a party attempted to
bring in merchandise belonging to his employer under his $100 personal
exemption*
This is the third such case reported in recent weeks*
r
pl§ i
*■
‘
TREASURY DEPARTMENT
-
(
Washington
ME*!OEANDUM FOR THE PRESS
December 10, 1934.
RECEIPTS OF SILVER. BY TH E MINTS:
(Under Executive P r o d amation of December, 21, 1955)
Week ended December 7, 1954:
Philadelphia............................
San Francisco................... ........
Denver ................................ .
Total for week ended Dec. 7, 1934....
Total receipts through December 7, 1954.....
149,945.05 fine ounces
223,667.14
"
"
114.081.00
"
«
487,695.19
19,315,000.00
"
«
»
"
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 7, 1954:
Philadelphia........ ..........»..... ..
4,881 fine ounces
n
1!
New York ...................
..
211,088
n , SI
San Francisco ..............
,,
75.966
ti
II
Denver...............
1,154
11
II
■
An?
New Orleans.................
tt
It
Seattle.....................
..
867
T
t
I
t
Total for week ended Dec. 7,1954___ ,..
292,358
tt
f
t
Total receipts through December 7, 1934...,.. 109,862,532
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended December 7, 1954:
Philadelphia .................
New York ......................
San Francisco.... ............
Denver ......... ..............
New Orleans ................
Seattle.................... .
Total for wee": ended Dec.7,1954...
Imports
<s-
___
29,900,000.00
260,889.63
7,398.00
2,173.26
130,170,460.89
Secondary
$ 398,319.02
755,500.00
124,716.24
19,146.00
44,722.91
55.441.76
$1,375,846* •93
Domestic
|
327.00
37,200.00
1,079,542.601
796.632.001
728.011
517.612.051
|2,232,041.641
OLE RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER
Received by Federal Reserve Banks:
Week ended Dec. 5...............
Received previously.............
Total to Dec. 5, 1934......... .
Gold Coin
40,979.08
29.487.580.84
$29,528,559.92
Gold Certificates
556,280.00
78.011.780.00
$78,568,060.00
Received by Treasurer’s Office:
Week ended Dec. 5 .............
Received previously............
Total to Dec. 5, 1954.... .
|
$
NOTE:
|
604.00
257.502.00
257.906.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
$
14,400.00
1.892.200.00
$ 1,906,600.00
TREASURY DEPARTMENT
Washington
MEMORANDUM POR THE PRESS.
December 10
RECEIPTS OP SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
Week ended December 7, 1934:
Philadelphia ........... .
San Prancisco
....
Denver
Total for week ended Dec. 7 ? 1934.,..^
Total receipts through December 7, 1934...,;
149,945.05 fine ounces
it
223,667.14 ti
it
it
114.081.00
I!
i
t
487,693.19
II
i
i
19,315,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9,, 1934)
Week ended December 7, 1934:
Philadelphia
•......... ................
New York ...............V...'..,
San Francisco .........................
Denver ......
New Orleans............ •... ................
Seattle.....,...-,......
Total for week ended Dec, 7,1934#......
4,831 fine ounces
211,088 n
»>
73,966 11
11
1,154 ,r
#
402 n
11
867 tt
*
292,358 l*
11
Total receipts through December 7, 1934*....
109,862,532
n
w
RECEIPTS OR GOLD BY THE MINTS AND ASSAY OPPICES:
Week ended December 7, 1934:
Imports
Philadelphia.
...... $
New York.............. . *. ...... 29,900,000.00
San Piancisco............. ......
*260^889.63
Denver..................... ......
7^398.00
New Orleans............... ......
2*173.26
Seattle.. . . . . . . . . . . . 1 ; .
Total for week ended Dec.'7, 1934.; $30,170,460.89
New
Secondary
Domestic
$ 398,319.02 ’ $
327..00
755,500.00
37,200.00
124,716.24
1,079,542.60
19,146.00
796,632.00
44,722.91
728.01
33,441.76
317,612*03
$2,232,041.64
$1,375,845.93
GOLD RECEIVED BY FEDERAL RES ERVE BANKS AND THE TREASURER’S OFFICE;(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:.
Week ended Dec. 5....,...... ......
Received previously*...............
Total to Dec. 5, 1934...;;.;....,.
Received by Treasurer’s Office:,:..
Week ended Dec*. 5.,
..... .
Received previously..............."
Total to Dec. 5, 1934............. ”
NOTE:
____ Gold Coin
$
40,979*08
29,487 ..580.84
$29,528,559.92
Gold Certificates
$
556,280.00
78,011,780.00
$78,568,060.00 '
$
$
$
604.00
257,302+00
257,906*00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported*
14,400.00
1,892.200.00
$ 1,906,600.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 11, 1934.
12710/34---- -- ------- ~
Press Seryics
o o
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated December 12, 1934, and
maturing June 12, 1935, whioh were offered on December 7,
were opened at the Federal reserve banks on December 10,
1934.
The total amount applied for was $302,273,000, of
which $75,079,000 was accepted* The accepted bids ranged
in price from 99.909, equivalent to a rate of about 0.18
percent per annum, to 99.896, equivalent to a rate of
about 0*21 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted* The average price of Treasury bills to be
issued is 99.900 and the average rate is about 0.20 per
cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, Decemher 11. 1934,
12-10-34.
Press Service
No. 3-83
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75*000,000, or thereabouts, of 182-day Treasury bills, dated
December 12, 1934, and maturing June 12, 1935, which were offered on December
7, were opened at the Federal reserve banks on December 10, 1934.
The total amount applied for was $302,273,000, of which $75,079,000
was accepted.
The accepted bids ranged in price from 99.909, equivalent to
a rate of about 0*18 per cent per annum, to 99.896, equivalent to a rate of about
0*21 per cent per annum, on a bank discount basis*
bid for at the latter price was accepted.
Only part of the amount
The average price of Treasury
bills to be issued is 99*900 and the average rate is about 0*20 per cent per
annum on a bank discount basis*
The latter figure was composed of class A preferred stock of $l#4-,626,000,
class B preferred stock of $15,205*000, and common stock of $1,313,997,000.
The
hook value of capital increased in the three and a half and twelve month periods
$3^,686,000 and $205*215*000, respectively. The par value of the stock showed
increases of $35*036,000 and $206,302,000, respectively, in the three and a
half and twelve month periods. Surplus funds of $8^5,335,000, undivided profits
of $2S6,18U,000, reserves for contingencies of $151,3^5,000 and preferred stock
retirement fund of $913,000, or a total of $1 ,283,777,000,showed an increase of
$20,571*000 since June, hut a decrease of $73*126,000 in the year.
Circulating notes outstanding amounted to $665,8^5,000, in comparison
with $698,293,000 in June, I93U, and $7^,913,000 in October, I933.
The total deposits of licensed hanks were $20,821,392,000 and showed an
increase of $888,732,000, or H.H6 per cent, since June 30* ®&d an increase of
$3,766,1SU,000, or 22,08 per cent, since October
25
last year. The aggregate
on October 17, 193**> included amounts due to banks subject to imediate with
drawal and certified and cashiers* checks outstanding of $3*190,798,000,
United States Government deposits of $610,676,000, other demand deposits of
$10,112,56^,000, and time deposits of $6,907>35**>000. In the total of time
deposits were included postal savings of $360,383,000, time certificates of
deposit of $688,710,000 and deposits evidenced by savings pass books of
$5*208,831,000, the latter figure representing 13*7^9*^72 accounts. ^Postal
savings in national banks on October
17, I93U,
showed a decrease of $80,399,000,
or 18,2k per cent, since June 30, and a decrease of $218,^3^,000, or 3 J . J U per
cent, in the year.
Bills payable of $8,207,000 and rediscounts of $579,000, a total of
$8,786,000, showed decreases in the three and a half and twelve month periods
of $6,893*000 and $91*520,000, respectively.
The percentage of loans and discounts to total deposits reported as of
17, 193*** was 36*66,;in comparison
on October 25, 1933.
October
U8.U2
with
32.60 on June
30, I93U, and
COMPTROLLER OP THE CURRENCY
Washington
Please
7
observe
release
datelll
RELEASED 10 MOHKINS HEWSPAPERS r , M
)b ~ l
Banka
Comptroller of the Currency J. P. T. O’Connor announced today that the
total assets of the
5*^66 licensed national
hanks operating on an unrestricted
haste in the continental United States, Alaska and Hawaii, on October
17, 193I*,
the date of the last call for statements of condition, aggregated
$2U,211,390,000, which is an increase of
$909>798,000 in
the amount reported
hy 5,1*22 licensed hanks on June 30, 193^> the date of the previous call,
and an increase of $3,612,7^1,000 in the amount reported hy
as of October
25, 1933>
5,057
licensed hanks
“
the date of the fall call last year.
Loans and discounts, including rediscounts, on October
17, I93I*, totaled
$7>633>92**,000, in comparison with $7>69**>7^9 >000 on June 30, I93H, and
$8,257,937,000 on October
25, 1933.
Investments in United States Government obligations, direct and/or fully
guaranteed, aggregated $6,3^2,232,000, which was an increase of $3!*!*,520,000
since June 30, aid an increase of $2,236,527,000 in the year.
The investments in United States Government obligations reported for the
current call comprise direct obligations of the United States of $5,837,372,000,
obligations of the Reconstruction Finance Corporation of $1SU,255,000, Federal
Farm Mortgage Corporation bonds of $11*1,638,000, and Home Owners* Loan Corporation
bonds guaranteed as to interest and principal of $12U,961,000. Other bonds and
securities held amounting to $3,570,137,000, which included Home Owners* Loan
Corporation 1$ bonds of $150,72U,000 guaranteed by the United States as to in
terest only, showed increases in the three and a half and twelve month periods
of $225,236,000 and $186,867,000, respectively.
Balances due from correspondent banks and bankers of $5,612,03^,000, which
included reserve with Federal Reserve Banks of $2,509,639,000, were $316,393,000
more than on June
last year.
30 last,
and $1,778,356,000 more than reported on October
25
Cash in vault of $1*12,756,000 showed an increase of $66,35!*,000 since
June, and an increase of $28,970,000 in the year.
The book value of capital stock of the licensed national banks on October 17,
193^, was $1,772,513>000 and represented a par value of $1,773*822,000.
(See page 2)
TREASURY DEPARTMENT
Washington
POE RELEASE, MORNING NEWSPAPERS,
Monday. December 17. 1934._____
12-12-34.
Press Service
No. 3-84
Comptroller of the Currency J.F.T. O ’Connor announced today that the total
assets of the 5,466 licensed national hanks operating on an unrestricted basis in
the continental United States, Alaska and Hawaii, on October 17, 1934, the date of
the last call for statements of condition, aggregated $24,811,390,000, which is an
increase of $909,798,000 in the amount reported by 5,422 licensed banks on June 30,
1934, the date of the previous call, and an increase of $3,612,741,000 in the
amount reported by 5,057 licensed banks as of October 25, 1933, the date of the
fall call last year.
Loans and discounts, including rediscounts, on October 17, 1934, totaled
$7,633,924,000, in comparison with $7,694,749,000 on June 30, 1934, and
$8,257,937,000 on October 25, 1933.
Investments in United States Government obligations, direct and/or fully
guaranteed, aggregated $6,348,232,000, which was an increase of $344,580,000 since
June 30, and an increase of $2,236,587,000 in the year.
The investments in United States Government obligations reported for the
current call comprise direct obligations of the United States of $5,837,378,000,
obligations of the Reconstruction Finance Corporation of $184,255,000, Federal
Farm Mortgage Corporation bonds of $141,638,000, and Home Owners1 Loan Corporation
bonds guaranteed as to interest and principal of $184,961,000.
Other bonds and
securities held amounting to $3,570,137,000, which included Home Owners’ Loan
Corporation 4$ bonds of $150,724,000 guaranteed by the United States as to interest
only, showed increases in the three and a half and twelve month periods of
$225,236,000 and $186,867,000, respectively.
Balances due from correspondent banks and bankers of $5,612,034,000, which
included reserve with Federal Reserve Banks of $2,509,639,000, were $316,393,000
more than on June 30 last, and $1,778,356,000 more than reported on October 25
- ■> '
last year.
-2Cash in vault of $418,756,000 showed an increase of $66,354,000 since
June, and an increase of $88,970,000 in the year.
The hook value of capital stock of the licensed national hanks on October 17,
1934? was $1,772,513,000 and represented a par value of $1,773,828,000.
The
latter figure was composed of class A preferred stock of $444,626,000, class B
preferred stock of $15,205,000, and common stock of $1,313,997,000.
The hook
value of capital increased in the three and a half and twelve month periods
$34,686,000 and $205,815,000, respectively.
The par value of the stock showed
increases of $35,036,000 and $206,302,000, respectively, in the three and a half
and twelve month periods.
Surplus funds of $845,335,000, unaiviaed profits of
$286,184,000, reserves for contingencies of $151,345,000 and preferred stock
retirement fund of $913,000, or a total of $1,283,777,000, showed an increase of
$20,571,000 since June, hut a decrease of $73,126,000 in the year.
Circulating notes outstanding amounted to $665,845,000, in comparison with
$698,293,000 in June, 1934, and $746,913,000 in October, 1933.
The total deposits of licensed banks were $20,821,39c,000 ana showed an
increase of $888,732,000, or 4.46 per cent, since June 30, and an increase of
$3,766,184,000, or 22.08 per cent, since October 25 last year.
The aggregate
on October 17, 1934, included amounts due to banks subject to immediate with
drawal and certified and cashiers’ checks outstanding of $3,190,798,000, United
States G-overnment deposits of $610,676,000, other demand deposits of $10,112,564,000,
and time deposits of $6,907,354,000.
In the total of time deposits weie included
postal savings of $360,383,000, time certificates of deposits of $688,710,000 and
deposits evidenced by savings pass books of $5,208,831,000, the lattei figure
representing 13,749,478 accounts.
Postal savings in national banks on October 17,
1934, showed a decrease of $80,399,000, or 18.24 per cent, since June 30, and a
decrease of $218,434,000, or 37.74 per cent, in the year.
Bills payable of $8,207,000 and rediscounts of $579,060, a total of
$8,786,000, showed decreases in the three and a half and twelve month periods
— 3—
of $6,893,000 and $91,580,000, respectively*
Tlie percentage of loans and discounts to tatal deposits reported as of
October 17, 1934, was 36*66, in comparison with 38*60 on June 30, 1934, and
48*42 on October 25, 1933.
H
m iS S
COLLECTED 08 IMPORTS OF 8XSTIU*£8 A8B fSRHSHtSO LX«OOR
D uring O H tb t r «nt Kw a a b a r, l$$4
Rat* rtf
Duty par
fallen
<iWn.fi..l.mlfcL
OaUona(a)
Impgptad
But!—
Gallena(a)
Xapartad
.SutlajL
882.414 $4,412,070
♦5.ee
7J«.7*4
f3**33.**«
4.0©
8.080
3*.3*0
5.8*7
*3.308
2.50
37.*3»
34.535
41.471
WJ.47#
Sparkling Wlnaa
#•£•
30.3*3
185.002
41.834
Still Visas
1.25
234.448
*35.585
1.00
a*
OlatiUt* Llquar
i*
»
fraa Cuba
a
Rua
a
a
a
fraa Oat*
35**334
8*
84
Dull** Callaatad on Idtpaar
$4,301.3**
$5,142,840
Dutiaa Colleated an Othar Xaparta
tirirMM
$ k m * m
$3®»5«8.740
♦*8»J75»M*
fatal dut&aa callaatad
(a) GaUon&go far eonaunptlas as raportad by th# Dapartaant rtf Coram«ree*
ft)
Revlaad.
(a) Preliminary.
PREPARED 8Y
DIVISION OF STATISTICS AND RESEARCH
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
d i s u u *£o datums m * wxms
m t i m m m m m * aj® &fvex» i» w m m s n m m
Boeonbor, |f$|# - Sw ufe^i 133% Inoi*
total*
Soptfols*^, Ih
133 $ t o
i m —
/ duly
28,044
4 ,323,297
total imports (Fro# and Butiablo)
8,231,408
Available for Oanounption
«,315,452
>»,»}
4,842,320
4,232,117
i n t e n d into e o s s n s p t i o n (a)
steak in Oust one Hondo* Wore**
3,790,*35
343,73 *
328,534
4,529*197
4, 524,64s
4,449,183
4,277,9** $3
2 , 23 1,13 4
27**477
1,558,821
1,338,4** 33
boo*
Ju»*»
august
-----------
n n
mJ22L
4,94,64*
4,443,1*3
3 *3,465
388,9*7
4,838,03*
oisfihbi® U&ooits ( f m f 0 * U o » » > *
Stoek i n Cuoton# tended Start*
h o use# at beginning of m o nth
hous e s at on* of m o n t h
mm.
100
i?
S W L L U R S S (Liquid 0allo«»»)s
|v Stock in 8»#to»» Hondod * t rt*
h o u s e s at beginning of m o nth
fetel Inporto (fro# on* Dutiable)
Available for Consumption
Entered into Consumption (o)
230,901
4,314,75?
4 # 544,7f2
2,7*5,424
*49,436
137,7««
2,105,511
i,U0,$*7
2,130,124
140,750
125,093
m m
1,552,221
1,392,424
u m m
3)4,42)
543,555
)».««
11,230
7,9$4
3 5 5 ,*25
12,05$
351,114
17fS64
S t e a k in Cuetene Bon*#* W o r e *
houses at end of m o n t h
SPARKLINO WlbSS (Liquid Gallon*}*
Steok in Custeno Bonded Ware
house o at beginning o f noath
4f,55«
total Import# (ffoo and Dutiable)
Available for Sensumption
673 , « 5
Entered int o C onsumption (a)
335,02*
357,59*
13,555
182.424
141.935
343,1 a
Stook in Sustens Bonded «nroh e uses at end Of m o nth
m n m
c®u.£8f£B
......
m (l,6M,ft)
5 1 ,515,057
still w i noo
3,373,«4S
175 , 32*
157,103
Sparkling Winoe
1.931*424
7 9 .5(6
.. »,&£-
( 24,023,703
(*,543,4)7
(2,147,756
hist m o d
Linuoro
fetal
(ft) tnclwOln : rithdraeoio for ship ouppiio# and d i p l m & i t #
PREPA RED
D IVISIO N
OF
S T A T IS T IC S
BU REA U
TREA SU RY
OF
BY
AN D
RESEA RCH
CUSTO M S
D EPA R TM EN T
(h) ftotiood*
| M |
ek&
n$m
*3,029,!
(o)
ft
m
Total®
(*)
t«
113 00
50?§00
4*157*343
jpj
5*087*004
10*333*744
10*341*774
334*334
4*811*744
^09
4*lf0*O30
4*150*030
4U n
1*834*400
484*33*
030*001
5*453*401
$*483*000
3*071*837
1*817*345
1,817*30$
*» ft
*709 *5
,124 le
,431 id
,(>n no
3*3*041
043**30
4*033*454
48*044
301*434
43*550
3**473
413*773
40*857
773*517
8*3*047
451,351
M jOM.
*§4l
)«
14*533*050
133*3^4*333
350*400
4*583*307
05*144*840
040*583*173
Imports of still wines during November, 263,296 gallons,
were the largest since July and represented an increase of
114.9 per cent over the preceding month.
For the third suc
cessive month a greater amount of imported still wines entered
consumption than was actually imported, the 282,331 gallons so
entered during November exceeding that for any month since May.
Imports of champagne and other sparkling wines were larger
than for any month since February, almost five times as much
being imported as during the preceding month. The quantity of
such wines released for consumption during November also ex
ceeded that for any month since February and constituted an
increase of 35*2 per cent over the amount of imported sparkling
wines entered for consumption during the previous month.
Total duties on imports of distilled liquors and wines
during the past month aggregated $5,142,840, as compared with
$4,301,922 in October, an increase of 19.5 per cent. Duties on
liquors and wines during November represented 18.1 per cent of
the total duties collected (#28,375,842), as compared with 14.1 per
cent during the preceding month.
The following table presents a detailed statement of imports
of distilled liquors and wines and duties collected thereon:
(2 )
\
Imports of liquors during November, according to pre
liminary figures just compiled, aggregated 929,061 proof gallons,
an increase of 257,261 proof gallons, or 38*3 per cent over the
imports for the previous month, it was announced by the Bureau
of Customs today*
November was the third successive month to show an increase
in imports of distilled liquors, after a period from May to
August of sharply declining imports.
For the fifth successive month, a greater amount of imported
distilled liquors entered into consumption than was actually re
ceived.
During November 936,994 proof gallons of imported
liquors paid duty and passed into the hands of consumers, an in
crease of 145,257 gallons, or 18.3 per cent, over the amount re
leased for consumption during the previous month.
At the end of November, there remained in Customs bonded
warehouses 4,150,030 gallons of distilled liquors, or 38 per cent
of the total amount of distilled liquors imported during the first
year since Repeal (10,933,728 gallons). The amount of distilled
liquor in warehouses at the end of November was less by 379,267
gallons than the amount at the end of June, at which time a larger
quantity of imported distilled liquor remained in Customs bonded
warehouses than for any other month since Repeal.
(1 )
OFFICE OF TFE COMMISSIONER OF CUSTOMS
TQ MR. GASTON
FROM THE COMMISSIONER OF CUSTOMS;
(Through Assistant Secretary Gibbons)
There is transmitted herewith a statement showing data
regarding imports of distilled liquors and wines during the
month of November as compared with previous months, which
may be suitable for use as a Treasury press release.
i
Inclosure No. 5144
m m u m umm* m
m t m mmimm$ m
m m *
warn
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DIVISION
OF
fatal# f s a
PREPARED BY
STATISTICS AND RESEARCH
BU REA U
T R EA SU R Y
OF
CUSTO M S
DEPARTMENT
mM*&
Mtsxs
m m m n m m m % u m m* w m m m m m a m
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PREPARED
!S!ON
OF STATISTICS
BUREAU
3Y
AND RESEAR
OF CUSTOMS
TREASURY DEPARTMENT
m t m
*
( S « t m mmvmakm. 0 * H r * # « M |
M ilo M f l
M p iM M i*
4 * t M Iff
t-
OFFICE OF THE COMMISSIONER OF CUSTOMS
June 13, 1934
TO ASSISTANT SECRETARY GIBBONS
FROM MR. FREEMAN:
In accordance with your telephone request there are
attached hereto additional copies of the two tables showing
imports of distilled liquors and wines during the month of
May which were forwarded with the Commissioner’s memorandum
of June 8th.
Inelosure•
DISTILLED LlftUORS AND WINES
IIMPORTATIONS, DOTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED
Deoember, 1933, - November, I934, Incl.
DISTILLED LIOUORS (Proof Gallons):
Stook in Customs Bonded Ware~
houses at beginning of month
Total Imports (Free fend Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware*
houses at end of month
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware**
houses at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware**
houses at end of month
Total
4,529,297
4 ,52 4 ,6 4 8
3 3 9 ,0 8 3
4 ,8 6 8 ,38 0
313,469
4 ,8 3 8 ,1 1 7
3,790,155
343,732
3 8 8 ,9 3 4
4,523,237
4,524,648
4,449,183
4,277,900 63
2 3 0 ,0 0 1
1,838,134
4,314,757
4,544,75®
2,706,624
271,477
2,109,611
1,968,821
149,496
1 4 0 ,7 9 0
2,118,317
125,893
1,992,424 93
137,700 (5
2,130,124 128
179,431 28
1,838,134
1 ,9 6 8 ,8 2 1
1,992,424
1,950,693 OO
4,449,183 00
388,907 00
4,838,090 00
560,190
37
)
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware**
house8 at beginning of month
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Ware*
houses at end of month
DUTIES COLLECTED ON Distilled Liquors
Still Wines
28,044
8,231,408
8,319>*52
3 3 8 ,4 2 3
1 9 ,1 6 8
343,995
3 3 5 ,0 2 2
3 5 7 ,5 9 1
1 3 ,5 9 6
355,225
12,065
343,160 10
7,954 1
351,114 31
17,504 37
338,423
343,995
3«3.H>0___
333,610, LL
$18,644,429
3,379,848
1.999.426
$1 ,6 8 8 ,5 2 9
175,382
79,506
$1,919,037
157,103
71,616
$2,703,353 15
223,569 •5
102,619 12
$24,023,703
$1 ,9 4 3 ,4 1 7
$2,147,756
$3,029,541
49,550
623,895
673,445
(a) Including withdrawals for ship supplies and diplomatio use.
PREPARED BY
DIVISION OF STATISTICS AND RESEARCH
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
1 1 ,2 3 0
(b) Revised *
(0) Pri
2
JED
nbeiQ|'(b)
4
Totals
November (q ) Dee.1 9 3 3 to
1934
183
307
00
00
4,157,963
Nov.I934
030
00
5,087,024
28,044
10,933*728
1 0 ,9 6 1 ,7 7 2
130
37
936,994
6,811,742
300
b
4,150,030
4 ,1 5 0 ,0 3 0
1,836,400
2 6 3 ,2 9 6
2 3 0 ,0 0 1
5 ,2 5 9 ,2 6 1
124 [28
431 28
2 ,0 9 9 ,6 9 6
5,489,262
2 8 2 ,3 3 1
3,671,897
O0
1,817,365
1,817,365
160 to
321,694
92,079
49,550
773,517
413,773
42,057
8 2 3 ,0 6 7
fi ..... 371,716
371,716
12
$4 ,5 3 9 ,0 5 6
352,420
251,364
$33,314,939
4,583,907
2,690,333
341 12
$5,142,840
$40 ,5 8 9 ,1 7 9
424 93
700
633
P
954 1
114 n
504 97
610
355 $
569 >5
619
Pri
9 2 9 ,0 6 1
4 5 1 ,3 5 1
■DUTIES COLLECTED ON IMPORTS OF DISTILLED AND FERMENTED LIQUOR
During October and November, 1334
Rate of
Duty per
Gallon
Distilled Liquor
«
n
November, 1934 (0 )
Gallons(i
Imported
Duties
$5*00
738,724
$ 3 ,6 3 3 ,6 2 0
882,414
$4,412,070
4.00
8,080
32,320
5 ,8 2 7
2 3 ,3 0 8
2*5©
3 7 ,8 3 8
34,595
41,471
1 0 3 ,6 7 8
3 0 ,3 6 7
185,802
41,834
251,364
from Cuba
n
Rum
October. » » ( • > )
Gallons(a )
Imported
Duties
n
Sparkling Wines
6.00
Still Wines
1* 2 5
2 3 6 ,4 6 8
2 3 5 ,5 8 5
281,867
352,334
1.00
-
-
86
86
tl
H
from Cuba
'
Duties Collected on Liquor
$ 4 ,3 0 1 ,3 2 2
$5,142,840
Duties Collected on Other Imports
26,206,818
23,233,002
$30,508,740
$28,375,842
Total duties Collected
(a)
(b)
(e)
Gallonage for consumption as reported by the Department of Commerce.
Revised.
Preliminary.
PREPARED BY
DIVISION OF STATISTICS AND RESEARCH
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
OFFICE OF THE COMMISSIONER OF CUSTOMS
December 11, 1934
/
TO ASSISTANT SECRETARY GIBBONS
FROM THE COMMISSIONER OF CUSTOMS:
There are attached two tables showing imports of
distilled liquors and wines, as follows:
Distilled Liquors and Wines - Importations, Duties
Collected, and Stocks in Customs Bonded Ware
houses, December, 1933 - November, 1934, Incl.
Duties Collected on Imports of Distilled and
Fermented Liquor, during October and November,
1934.
Inclosures.
t ■■m
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 12, 1934*
t
Press Service
No* 3-85
Imports of liquors during November, according to preliminary figures just
compiled, aggregated 929,061 proof gallons, an increase of 257,261 proof gallons,
or 38*3 per cent over the imports for the previous month, it was announced by the
Bureau of Customs today*
November was the third successive month to show an increase im imports of
distilled liquors, after a period from May to August of sharply declining imports*
For the fifth successive month, a greater amount of imported distilled
liquors entered into consumption than was actually received*
During November
936,994 proof gallons of imported liquors paid duty and passed into the hands of
consumers, an increase of 145,257 gallons, or 18*3 per cent, over the amount re
leased for consumption during the previous month*
At the end of November, there remained in Customs bonded warehouses 4,150,030
gallons of distilled liquors, or 38 per cent of the total amount of distilled
liquors imported during the first year since Repeal (10,933,728 gallons).
The
amount of distilled liquor in warehouses at the end of November was less by
379,267 gallons than the amount at the end of June, at which time a larger quan
tity of imported distilled liquor remained in Customs bonded warehouses than for
any other month since Repeal*
Imports of still wines during November, 263,396 gallons, were the largest
since July and represented an increase of 114*9 per cent over the preceding month©
For the third successive month a greater amount of imported still wines entered
consumption than was actually imported, the 282,331 gallons so entered during
November exceeding that for any month since May*
Imports of champagne and other sparkling wines were larger than for any month
/
since February, almost five times as much being imported as during the preceding
month*
The quantity of such wines released for consumption during November also
exceeded that for any month since February and constituted an increase of 35*2
— 2—
per cent over the amount of imported sparkling wines entered for consumption
during the previous month*
Total duties on imports of distilled liquors and wines during the past month
aggregated $5,142,840, as compared with $4,301,922 in October, an increase of
19*5 per cent*
Duties on liquors and wines during November represented 18*1 per
cent of the total duties collected ($28,375,842), as compared with 14*1 per cen,t
during the preceding month*
The following table presents a detailed statement of imports of distilled
liquors and wines and duties collected thereon:
DISTILLED LIQUORS AND WINES
IMPORTATIONS, DUTIES COLLECTED, AND STOCKS IN CUSTOMS BONDED WAREHOUSES
December,1933, - November, 1934, Incl.
Totals
Totals
Dec* 1933 to October (b)November (c ) Dec* 1933 to
June.1934
1934
1934
Nov* 1934
blSTILLED LIQUORS (Proof Gallons ) •
Stock in Customs Bonded Warehouses at beginning of month
28,044 4,277,900 4,157,963
28,044
Total Imports (Eree and dutiable)8,291,408
671,800
10,933,728
989,061
Available for Consumption
8,319,452 4,949,700 5,087,024 10,961,772
Entered into Consumption (a)
3,790,155
791,737
936,994
6,811,742
Stock in Customs Bonded Ware—
houses at end of month
4,529,297 4,157,963 4,150,030
4,150,030
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Ware—
houses at beginning of month
230,001 1,950,693
Total Imports (Eree and Dutiable)4,314,757
122,535
Available for Consumption
4,544,758 2,073,228
Entered into Consumption (a)
2,706,624
236,828
Stock in Customs Bonded Wa re—
houses at end of month
1,838,134 1,836,400
1,836,400
263,296
2,099*696
*282^331
230,001
5,259,261
5,489,262
3,671,897
1,817,365
1,817,365
SPARKLING WINES (Liquid Gallons) •
•
Stock in Customs Bonded Ware—
houses at beginning of month
49,550
333,610
321,694
49,550
Total Imports (Eree and Dutiable)
623,895
19,191
92,079
773,517
Available for Consumption
673,445
352,801
413,773
823,067
Entered into Consumption (a)
335,022
31,107
42,057
451,351
Stock in Customs Bonded Ware—
houses at end of month
338,423
321.694
371,716
371.716
DUTIES COLLECTED ON Distilled Liquors
$18,644,429$3,820,535 $4,539,056 $33,314,939
Still Wines
3,379,848
295,585
352,420
4,583,907
Sparkling Wines
1.999.428
185.802
251,364
2.690.333
Total
$24,023,703$4,301,922 $5,142,840 $40,589,179
(a) Including withdrawals for ship supplies and diplomatic use*
(c) Preliminary*
(b) Revised*
DUTIES COLLECTED ON IMPORTS OP DISTILLED AND FERMENTED LIQUOR
Daring October and November, 1934*
Rate of
Duty per
Gallon
Distilled Liquor
October, 1934 (b)
Gallons (a)
Imported
Duties
November, 1934 (c)
Gallons (a)
Duties
Imported
$5.00
738,724
$3,693,620
4.00
8,080
32,320
5,827
23,308
2.50
37,838
94,595
41,471
103,678
Sparkling Wines
6.00
30,967
185,802
41,894
251,364
Still Wines
1.25
236,468
295,525
281,867
352,334
86
86
n
0
Rum
11
from Cuba
»
n .
w
from Cuba
1.00
-
-
882,414 $4,412,070
Duties Collected on Liquor
$4,301,922
$5,142,840
Duties Collected on Other Imports
26,206.818
23,233,002
$30,508,740
$28,375,842
Total duties Collected
(a)
(b)
(c)
Gallonage for consumption as reported by the Department of Commerce.
Revised.
Preliminary.
2
1-1/8 PERCENT TREASURY NOTES OF SERIES E-1956
Federal Heserve
District
Total Cash
Subscriptions
Received
Total: Exchange
Subscriptions
Received
Total
Subscriptions
Received
Total
Subscriptions
Allotted
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chieago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
$ 189,587,500
1,450,222,900
185,565,400
201,292,000
132,939,500
98,886,900
287,435,900
72,900,300
52,846,500
82,481,200
70,038,300
211,861,500
12,000
# 10,375,000
148,868,000
1,965,500
2,226,500
2,681,500
77,000
38,519,000
736,500
1,081,000
2,266,000
66,000
3,277,500
60,000
$ 199,962,500
1,599,090,900
187,530,900
203,518,500
135,621,000
98,963,900
323,954,900
73,636,800
53,927,500
84,747,200
70,104,300
215,139,000
72,000
# 40,978,000
363,150,000
29,034,900
32,0X3,500
24,314,500
18,310,400
85,125,700
15,058,800
10,560,000
18,936,200
14,174,400
34,945,000
72,000
#3,036,069,900
$210,199,500
$3,246,269,400
♦#686,673,400
TOTAL
exchange subscriptions,
which were allotted in full.
^Includes $21t}$&9t$tak
3-1/8 PERCENT TRBASDRY NOTES OF SERIES A-1959
(Additional Issue)
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chieago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
Total Subscriptions
Received and Allotted
| 23,706,000
473.903.500
13.623.500
13.141.500
54.554.000
4.696.500
112.811.500
14.011.000
18.679.000
13.482.000
8.821.500
12.168.000
2,810,000
$765,408,000
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 12, 1954*
Press Service
3 ~ %ls
12 / 12 /3 4
Secretary of the Treasury Morgenthau today announced the final subscription
and allotment figures with respect to the December 15 offering of 3-1/8 percent
Treasury bonds of 1949-52, 1-1/8 percent Treasury notes of Series E-1936 and the
additional issue of 2-1/8 percent Treasury notes of Series A-1939*
Subscriptions and allotments were divided among the several Federal reserve
districts and the Treasury as follows}
3-1/8 PERCENT TREASURY BONDS OF 1949-52
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St* Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
Total Subscrip
tions Received
Total Subserl
tlons Allotte
# 158,778,550
1,153,531,100
150,151,650
133.854.700
90,110,350
100,158,600
181,084,750
60,931,500
14,382,400
51,402,200
63,126,100
176.982.700
______ 30,900
# 33,113,600 |L
224,204,500 I
30,513,500
29,069,800
18,586,350
23,974,600
42,921,050
16,969,400
5,577,400 I
14,302,300
17,223,200 j
34,903,100
30,900
#2,334,469,500
#401,389,100 I
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, December 12, 1934.
Press Service
No. 3-86
Secretary of the Treasury M0rgenthau today announced the final subscription
and allotment figures with respect to the December 15 offering of 3-l/8 percent
Treasury bonds of 1949-52, 1-1/8 percent Treasury notes of Series E-1936 and the
additional issue of 2-1/8 percent Treasury notes of Series A-1939.
Subscriptions and allotments were divided among the several Federal reserve
districts and the Treasury as follows ••
3-1/8 PERCENT TREASURY BONDS OF 1949-52
Federal Reserve
District
Total Subscriptions Received
Boston
New York
Philadelphia
Cleveland
Ri chmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
$
TOTAL
158,772,550
1,153,531,100
150,161,650
133,854,700
90,110,350
100,158,600
181,024,750
60,931,500
14,382,400
51,402,200
63,126,100
176,982,700
30,900
$2,334,469,500
Total Subscrip—
tions Allotted
$ 33,113,600
224,204,500
30,513,500
29,069,200
18,586,350
23,974,600
42,921,050
16,969,400
5,577,400
14,302,300
17,223,200
34,903,100
30,900
$491,389,100
~2~
1-1/8 PERCENT TREASURY NOTES OP SIRIUS S-1936
Federal Reserve
District
Total Cash
Subscriptions
Received
Boston
Hew York
Philadelphia
Cleveland
Richmond
Atlanta
Chi cage
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
$
TOTAL
Total Exchange
Subscriptions
Received
189,587.500 $ 10,375,000
1,450,222,900 148,868,000
1,965,500
185,565,400
2,226,500
201,292,000
2,681,500
132,939,500
77,000
98,886,900
36,519,000
287,435,900
736,500
72,900,300
1,081,000
52,846,500
2,266,000
82,481,200
66,000
70,038,300
3,277,500
211,861,500
60,000
12,000
$3,036,069,900 $210,199,500
Total
Subscriptions
Received
Total
Subscriptions
Allotted
$
$ 40,978,000
363,150,000
29,034,900
32,013,500
24,314,500
18,310,400
85,125,700
15,058,800
10,560,000
18,936,200
14,174,400
34,945,000
72,000
199,962,500
1,599,090,900
187,530,900
203,518,500
135,621,000
98,963,900
323,954,900
73,636,800
53,927,500
84,747,200
70,104,300
215,139,000
72,000
$3,246,269,400 *$686,673,400
* Includes $210,199,500 exchange subscriptions
which were allotted in full#
2-1/8 PERCENT TREASURY NOTES OF SERIES A-1939
(Additional Issue)
Federal Reserve
District
Total Subscriptions
Received and Allotted
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
$ 22,706,000
473,903,500
13,623,500
13,141,500
54,554,000
4,696,500
112,811,500
14,011,000
18,679,000
13,482,000
8,821,500
12,168,000
2.810.000
TOTAL
$765,408,000
Fage 2
z Indicates supplemental budgets submitted and included
STATE
North Carolina
*
X
o,
f
NUMBER CF RURAL
HEALTH PROJECTS
USEBS
COMMITMENT
HUMBER OF PERSONNEL
PROVIDED BT USEES
26
#46,200.00
66
16
40,451.98
47
1
1.980.00
3
Ohio
*
/
Oklahoma
f
South Carolina
1
X
9
20,616.70
24
Tennessee
*
X
16
49,553.34
47
7
18,521.47
32
15
60,950.08
45
6
12,476.67
15
4
7.770.00
8
18
22,760.00
47
325
#715,307.75
946
Texas
Virginia
Vest Virginia
Washington
Puerto Bieo
1
I
11
X
STATE
NUMBER QT RURAL
HEALTH PROJECTS
Alabama
4
x
USPHS
COMMITMENT
NUMBER GBP PERSONNEL
PROVIDED BY USPHS
SI
$55,725*28
72
4
16,600*00
18
1?
41,913.36
58
6
33,430.00
40
1
Arizona
Arkansas
*
1
California
f
Delaware
f
S
6,600,00
6
Florida
£
2
1,666*67
2
IS
39,446.66
41
x
Georgia
Iowa
I
s
11,079.97
12
Kansas
4
s
4,340.00
6
Kentucky
1
43
74,940.00
137
Louisiana
r
IS
34,000.00
20
Maine
*
-
Maryland
f
zz
35,988.00
48
Michigan
r
11
23,040.91
72
Mississippi
Jr
16
37,975.00
46
Missouri
I
6
13,935.00
20
Montana
If
1
2,200,00
3
6
11,256*66
11
New Mexico
x
j
3 - S > 7
Henry Morgenthau, Jr* ,Secretary of the Treasury announced today that he had
allocated approximately three-fourths of the one million dollar fond he had secured
from the Federal Emergency Relief Administration to carry out rural health projects
under the Public Health Service*
A total of 325 rural community projects in
ji
26-
states are included in the program*
The Public Health Service is giving financial aid through state health depart
ments for the maintenance of existing full time county or district health units when
local funds available are insufficient to provide adequate health service*
In
addition, a number of new full time rural health units have been established with
the aid of the present fund*
The Public Health Service does not contribute to any project in which less than
50 per cent of the cost is borne by state or local authorities*
Approximately $110,000 of the present fund has been allotted to Public Health
Bureaus in 23 states and Puerto Rico*
It is believed that this direct aid to state
central administrative boards will expedite the program by providing more adequate
supervisory personnel*
The rural health program has brought about a scarcity of trained health officers
1|
Several counties are faced with difficulties in finding such workers*
The present
program provides employment for 946 public health workers*
There is under consideration the allocation of approximately $75,000 for
projects in Hew York State*
The following table lists the states receiving
rural health projects, the commitment and the personnel provided*
■
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASEt
Thursday, December 13, 1934#
Press Service
^°*
Henry Morgenthau, Jr*, Secretary of the Treasury, announced today
that he had allocated approximately three— fourths of the one million
dollar fund he had secured from the Federal Emergency Relief Administration
to carry out rural health projects under the Public Healtn Service*
A
total of 325 rural community projects in 27 states are included in the
program*
The Public Health Service is giving financial aid through state
health departments for the maintenance of existing full-time county or
d.istrict health units when local funds available are insufficient to provide
adequate health service*
In auditiono a number of new full-time rural
health units have been established with the aid of the present fund#
The Public Health Service does not contribute to any project in which
less than 50 per cent of the cost is borne by state or local authorities#
Approximately $110,000 of the present fund has been allotted to Public
Health Bureaus in 23 states and Puerto Rico#
It is believed that this
direct aid to state central administrative boards will expedite the program
by providing more adequate supervisory personnel#
The rural health program has brought about a scarcity of trained health
officers*
workers*
Several counties are faced with difficulties in finding such
The present program provides employment for 946 public health
workers#
There is under consideration the allocation of approximately $75,000
for projects in New York State*
The following table lists the states
receiving rural health projects, the commitment and the personnel provideds
NUMBER OF RURAL
HEALTH PROJECTS
STATE
USPHS
COMMITMENT
NUMBER OF PERSONNEL
PROVIDED BY USPHS
31
$55^725,28
72
Alabama
Arizona
4
16,600,00
18
17
41,913*36
58
California
6
33,420.00
40
Delaware
3
6,600.00
6
Florida
2
1,666.67
2
Georgia
15
39,446.66
41
Iowa
3
11,079.97
12
Kansas
3
4,240.00
6
Kentucky
43
.74,940,00
137
Louisiana
18
24,000.00
20
Arkansas
Maine
*
-
-
Maryland
22
35,988.00
48
Michigan
11
23,040.91
72
Mississippi
16
37,975.00
46
Missouri
6
13,935.00
20
Montana
1
2,200.00
3
New Mexico
6
11,256,66
11
North Carolina
26
46,200.00
66
Ohio
16
40,451.98
47
Oklahoma
1
1,980.00
3
South Carolina
9
20,616.70
24
16
49,553.34
47
18,521.47
60,950.08
12,476.67
7,770.00
22.760.00
$715,307.75
32
45
15
8
47
946
Tennessee
7
15
6
4
18
325
Indicates Central Administration.
Texas
Virginia
West Virginia
Washington
Puerto Rico
*
LIQUOR SEIZURES MADE BY OTHER FEDERAL Sc LOCAL OFFICERS
AS REPORTED BY CUSTOMS OFFICERS
DURING NOVEMBER, 1934.
Liquor
Seizures
CANADIAN BORDER:
Maine and New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth and Superior
Dakota
Montana and Idaho
Washington
______ Gallons______
Li quor Beer Alcohol
Boats
N o . Value
“
Autos
N o . Value
'
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
South Carolina
Virginia
7
8
-
1,770
-
4 $1,975
GULF COAST:
Florida
Mob1le
New Orleans
Sabine
Galveston
PACIFIC COAST?
San Francisco
Los Angeles
OTHER DISTRICTS:
Total...............
* Not yet reported.
8
_______________ _______________________
15
1,770
4 $1,975
LIQUOR SEIZURES MADE BY IMMIGRATION OFFICERS
AS REPORTED BY CUSTOMS OFFICERS
DURING NOVEMBER, 1934.
Liquor
Seizures
CANADIAN BORDER:
Maine and New Hampshire
Vermont
S t . Lawrence
Buffalo
Ohio
Michigan
Duluth and Superior
Dakota
Montana and Idaho
Washington
______ Gallons______
Liquor Beer Alcohol
Boats
No. Value
Autos
N o . Value
"*
-
metxican b o r d e r :
San Diego
Arizona
El Paso
San Antonio
1
5
6
15
17
24
-
20
-
-
—
2$50
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
South Carolina
Virginia
GULF COAST:
Florida
Mobile
New Orleans
Sabine
Galveston
PAHIFIC C O A S T :
San Francisco
Los Angeles
OTHER DISTRICTS:
Total.
. « « ♦
"* Not yet reported
13
62
20~
~
»
2
$50
LIQUOR SEIZURES MADE BY CUSTOMS OFFICERS
DURING NOVEMBER, 1934.
Liquor
Autos
Gallons
Boats
Seizures Liquor Beer Alcohol No. Value No. Value
CANADIAN BORDER:
Maine and New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth and Superior
Dakota
Montana and Idaho
Washington
3
3
2
1
2
2
3
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
17 1%
90
/
52 £7
82
ATLANTIC COAST:
New York
Massachuse11s
Rhode Island
Connecticut
Philadelphia
Maryland
Virginia
South Carolina
-
1
1
-
$75
15
-
-
-
2
-
-
-
-
-
1
-
-
-
-
-
1
—
**
—
•
—
20^413^8113 Ot>118^7-
10
48
52
—
—
5 $870
5 $550
6%
292 3V
67
7(a W
4
1
2
2
495
5 '3 -
2,970
-
-
1 $100
37$2,025 <7,
—
•
*■
*•
••
3,186
•
**
*■
1
GULF COAST:
Florida
Mobile
New Orleans
Sabine
Galveston
11
3
*
209
-
-
8
•
PACIFIC COAST:
San Francisco
Los Angeles
11
13
3
69
•
1
10
1
*
1
1
2
-
13
58
-
(o%
-
-
**
$200
-
**
*
•
"
1
T
•
•—
$275
r
~
OTHER DISTRICTS:
$50
1
$800
2
540
396
6
Puerto Rico
nn
.
$4,252
24
$1,000
<
/
3
6,877
Total....... .> . • %70*E
30 " 3-7 j
S',6 47
~
*Not yet reported,
made
in
conjunction
#125.00
(a) 2 seizures - 570 gals. Alcohol and 1 auto
with Coast Guard.
a
LIQUOR SEIZURES MADE BY COAST GUARD OFFICERS
AS REPORTED BY CUSTOMS OFFICERS
DURING NOVEMBER, 1934.
N 0
T R A N S A C T I O N S
OFFICE OF THE COMMISSIONER OF CUSTOMS
DEC 1 3 1934
TO MR. GASTON
FROM THE COMMISSIONER OF CUSTOMS:
(Through Assistant Secretary Gibbons)
There is transmitted herewith the report of liquor
seizures made during the month of November for violations
the Customs laws, divided according to the services making
the seizures.
Inclosure.
Seizures of liquor for the violation of Customs laws during November, 1934,
numbered 405, it was announced by the Customs Bureau today.
During the month of October, 1934, 418 seizures were made and during September,
1934, there were 455 seizures,
The number of gallons of liquor seized during
November, 1934, m e 1,644 which compares withjl,335 gallons during October, 1934 and
775 gallons during Septober, 1934,
Th e
Ho beer was seized in November,
total number of gallons of alcohol seized during November, 1934, was 8,667,
which compares with 11,717 gallons in October, 1934 and 750 gallons in September,
1934,
As has been the case in the past few months, the greatest number of seizures
wer^nade along the Mexican border,
£he following table lists by districts and states seizures of liquor for
violation of Customs laws by all agencies of the Federal Government during November,
1934.
TREASURY DEPARTMENT
Washington
Press Service
No. 3-88
FOR R3LUASF, MORNING NEWSPAPERS,
Saturday. December 15, 1934.
12-14-34.
Seizures of liquor for the violation of Customs laws during November,
1934, numbered 405, it was announced by the Customs Bureau today.
During the month of October, 1934, 418 seizures were made and during
September, 1934, there were 455 seizures.
The number of gallons of liquor
seised during November, 1934, was 1,544 which compares with 1,335 gallons
during October, 1934, and 775 gallons during September, 1934.
No beer was
seized in November.
The total number of gallons of alcohol seized during November, 19o4,
was 8,667, which compares with 11,717 gallons in October, 1934 and 750 gallonin September, 1934.
As has been the case in the past few months, the greatest number of
seizures was made along the Mexican border#
The following table lists by districts and states seizures of liquor f
violation of Customs laws by all agencies of the Federal Government during
November, 1934:
SEIZURES OF LIQUOR FOR VIOLATION OF CUSTOMS LAWS
DURING- NOVEMBER, 1934.
Gallons
Liquor
Seizures Liquor Beer
CANADIAN BOEDER:
Maine & New Hampshire
Vermont
St. Lawrence
Buffalo
Ohio
Michigan
Duluth & Superior
Dakota
Montana & Idaho
Washington
-
Boats
No. Value
Alcohol
0
M
M
~
—
—
—
_
—
—
—
—
-
1
-
-
18
91
57
89
26
28
130
147
-
10
—
68
52
ATLANTIC COAST:
New York
Massachusetts
Rhode Island
Connecticut
Philadelphia
Maryland
Virginia
South Carolina
67
14
—
4
1
2
2
495
13
-
—
2
0
—
GULF COAST:
Florida
Mobile
New Orleans
Sabine
Galveston
11
3
—
*
209
U
8
0
PACIFIC COAST:
San Francisco
Los Angeles
11
13
3
69
6
►405
3C 5
1,544
—
—
13
58
2
-
1
3
MEXICAN BORDER:
San Diego
Arizona
El Paso
San Antonio
OTHER DISTRICTS:
Puerto Rico
Total..... .
*Not yet reported,
3
3
i
i
2
—
2
1
10
1
4,740
—
-
1
1
—
m
-
•HI
-
—
—
0.
-
5
—
5
8
$870
—
$550
#342
0
—
1
7
$100
$4000
—
1
—
—
—
$200
—.
_
«
540
8,667
$75
15
—
—
—
-
m
—
*1
1
-
0
3,186
Autos
No. iiTalno
2 SSOO
3 $1000
0
*-
-
1
$275
u*
**
_
-
0
30$6 ,277
COMBINED
CRE DI T
OF A S S E T S AND' L I A B I L I T I E S OF G O V E R N M E N T A L C O R P O R A T I O N S AND
U N I T E D STATES, AS OF O C T O B E R 31, 1934, C O M P I L E D FROM R E P O R T S
STATEMENT
AGENCIES
OF THE
RECEIVED
FRO M
ORGANIZATIONS
CONCERNED.
S U M M A R Y
—
L IAB ILITIES and RESERV s
CASH
loans
I.
FINANCED WHOLLY FROM GOVERNMENT FUNDS:
Reconstruction Finance Corporation . . . . b $2,596,580,461
Commodity Credit Corporation ..........
46,661,219
Export-Import B a n k s .............. . . .
public Wcks Administration . ..........
225,271,385
Regional Agricultural Credit Corporations
96,886,128
Production Credit Corporations .........
Other (including crop loans) ...........
276,712,212
3,212,111,435
Tatal, Graip I . . .......... . .
II.
$40,060,435
74,348
13,797,740
4,066,801
1,813*940
1,906,212
52,479,628
114,199,104
INVESTMENTS
SECURITIES
U. S.
SECURITIES
guaranteed
.—
TOTAL
OTHER
ALL OTHER
GUARANTEED
BY
UNITED
STATES
NOT GUARANTEED
BY
UNITED
STATES
a
TOTAL
DISTRIBUTICIN OF U. S. INI ERESTS
PROPRIETARY INTERESTS
EXCESS OF
ASSETS OVER
LIABILITIES
OWMED BY
UNITED
STATES
CAP ITAL
STOCK
SURPLUS
$2,408,036,507
47,685,692
13,122,952
251,354,208
103,254,090
110,116,428
345,447,511
$500,000,000
3,000,000
13.750.000
342,476,247
44.500.000
$68,425,333
1,085,256
PRIVATELY
OWNED
a
BY U. s.
$9,834
1,937,069
9,401,426
11,348,329
$1,802,701
$105,622,825
$47,276,000
972,482
8,649
2,016,022
5,475,248
1,653,912
132,618,515
$2,683,916,896
47,708,049
13,806,389
231,354,208
104,185,150
112,922,719
471,211,811
$250,097,727
$25,782,662
22,357
383,437
$275,880,389
22,357
383,437
931,060
2,806,291
125,764,300
931,060
2,806,291
125,764,300
1,802,701
105,622,825
190,020,828
3,665,105,222
250,097,727
155,690,107
22,315,100
40,057,515
40,641
53,000
471,605,597
2,163,215,645
238,739,131
1,037,784,374
113,563,094
109,183,851
2,175,446,077
101,591,043
6,501,300
321,298,771
6,267,323,286
805,704,913
1,896,759,445
182,437,570
37,210,381
75,Ce5
4,262,540
358,388,944
2,531,412,120
850,205
2,479,984,090
9,932,428,508
2,781,509,847
2,635,674,197
$2,408,036,507
47,685,692
13,422,952
231,354,208
103,254,090
110,116,428
355,447,511
3,259,317,388
_____
1,908,183,758
141,252,500
551,873,242
24,561,437
87,446,331
1,996,751,299
39,218,392
18,226,843
6,972,346
10,957,131
5,091,608
153,382,435
87,750
69,003,494
33,483,910
240,355,551
378,202,551
227,000,172
471,699,238
124,454,260
5,065,363
7,333,189
610,709
642,576
25,312,343
1,553,293
6,501,300
1,631,059
173,104,092
389,550,880
228,802,873
577,322,063
363,184,923
Total, Group II , .........
4,710,068,567
73,312,161
307,248,666
Grand Total
7,952,180,002
421,447,770
26,976,956
2,382*640
50,456,861
13,620,696
99,950,000
--
FINANCEO WHOLLY FROM GOVERNMENT FUND5
RECONSTRUCT 1ON
FINANCE
CORPORAT ION
ASSETS:
Loans Banks .................. .
Railroads............■ . ........*
insurance Companies ........... . ,
Credit Unions . . . . . . . . . . . .
Building and Loan Associations. . . .
Live-stock Credit Corporations. . . .
Mortgage Loan Companies ............
Agricultural Credit Corporations. . .
Cooperative Associations...........
States, Territories, etc...........
Joint Stdek Land Banks.............
Federal Land b a n k s ......... . . ,
Mortgage Ltans. . . . . . . . . . . .
Crop, Live-stock and Commodity Loans.
Other ......................... . .
Sub-totil
COMMOOITY
CREOIT
CORPORATION
________________
1 1 1 ,122,039
49,358,492
110 , 0 0 0 ,0 0 0
9,395,598
116,428
C2,016,100,820
3,029,827,067
759,662
1,669,893,647
77,935,905
151,554,416
-----
$602,323,646
353,169,566
55,766,795
387,620
25,205,324
•1,545,606
159,327,388
604,550
20,988,450
1,072,566
32,310,482
— *— —— ■
225,271,385
46,661,219
74,348
—
270,712,242
—
$13,797,740
4,066,801
—
LIABILITIES:
Bends, Notes and Debentures:
Obligations Guaranteed by U. S. . .
All Other . . . . ...............
Accrued interest:
Guaranteed by U. S. . . . . . . .
All Other . . . . ..........* • •
other Liabilities (lnc. trust accounts)
Deferred income. . . . . . . . . . . .
Reserves:
Legal Reserves. . . . . . . . . v ,
Reserve for uncollectible Items « .
Other . . . . . . . . . . . . . . .
Total Liabilities.........
96,886,128
— -
32,631,084
7,429,351
44,498,734
$96,886,128
$46,661,219
Cash:
With U. S
investments:
U. S. Securities^
Obligations Guarafmed by U. S.:
Federal Farm Mo»tage Corporation.
Home Owners* L o a t i o n .
FederalToahd §S8fe
Intermediate Credit Bank Securities.
Production Credit Associations:
Class A stock..........
Other Investments .................
Accounts Receivable (tax advances, etc.)
Accrued Interest Receivable......... ..
Real Estate and Business Property. . . .
Real Estate Held for Sale........... .
Other Assets .........................
Total Assets ...............
850,205
1170,448,566
165,979,040
56,301,561
194,869,100
112,144,956
82,766,564
91,349,926
101,591,043
6,501,300
150,000,000
5,011,396,210
1,255,927,076
294,4^3,586
961,503,490
5,417,184,044
4,515,244,464
294,423,586
4,220,620,878
TOTAL
FEDERAL
LAND
BANKS
FEDERAL
INTERMEDIATE
CREDIT
8ANKS
$602*323,646
511, 166,607
55,763,795
387,620
25,205,321
1,545,606
159,327,388
1,677,116
32,310,482
424,859,341
8,030,310
115,016,998
117,617,300
70,000,000
53,171,918
33,045,799
4 , 8 10,178
46,744,238
1,681,310
132,630
— 9,834
—
209,034,531
2,135,431,r’73
$551,812,646
60,596
1,908,183,758
141,252,500
551,873,242
—
806,580,362
100,000
$893,810
1,012,402
6,333,374
7,345,776
1,937,069
9,401,426
11,348,329
69,003,494
33,483,910
1,802,701
22,315,100
40,657,515
39,218,392
—
18,226*843
—
—
7 , 9 33,407
100,716,667
874,376
716,667
1,035,764,300
77,293,606
151,654,416
4,065,591,367
155,229,511
100,000,000
6,501,300
150,000,000
HOME
OWNERS’
LOAN
CORPORATION
FUNDS
FEDERAL
FEDERAL SAV
INGS AND LOAN SAVINGS AND
LOAN
{
1NSURANCE
CORPORATION ASSOCIATIONS!
FEDERAL
DEPOSIT
INSURANCE
CORPORATION
24,561,437
$87,439,153
48,767,983
87,446,331
4,456,707,869
117,106,550
47,012
4,710,068,567
47,012
1,996,751,299
**—
—
—
6,587,231
184,601
—
—
8,894,740
2,002,391
2,114,647
2,976,961
26,976,956
153,378,285
4,150
$87,750
—
—
—
2,382,64°
—
—
—
13,620,696
—
50,456,861
99,950,000
—
—
—
—
200,514
—
TOTAL
$73,312,161
244,374,814
62,673,338
200,514
246,355,551
378,202,551
113,429,476
113,570,696
471,605,597
—
—
E
—
—
485
604
1,876
1,593
959,228
11,661
885,991
44,156,178
531,780
1,702,051
—
—
435,984
580,038
5,684
2,683,916,896
47,708,049
—
248,150,167
13,306,389
—
231*354,208
j--
216,410
4,957,125
130,223
86,285
55,205
104,185,150
—
88,115,025
156,410
1,228,182
75,326
193,994
112,922,719
—
12,993,724
17,100
22,936,856
2,956,341
93,714,494
3,665,105,222
92,764,697
248,150,167
92,764,697
124,127
20,2^3,321
57,282
1,947,560
1,024,507
47,915,585
57,282
—
22,357
25,682,662
212
862
931,060
900,168
1,015,323
40,641
13,009,849
27,300,290
4,730,884
77,105,731
2,3*7 506
11,254,613
51,318,417
24,153,706
6,324,715
93,969,377
471,211,811
—
1,947,560
88,115,025
238,739,131
1,686,196,260
177,680,000
».), 126,563
168,432,775
3,910,825
1,222,183
2,714,218
821,169
4,820,673
3,272,349
2,477,837
11,450,199
—
405,787,834
1,896,759,445
182,437,570
842,915,274
266,456,200
100,477,160
165,979,040
56,301,561
194,869,100
56,301,501
194,869,100
goo, n o r ., q c ©
13,422,952
23lj»354,208
103,254,090
110,116,428
345,447,511
3,259,317,338
47,686,692
13,422,952
231,354,208
103,254,090
110,116,428
345,447,511
3,259,317,388
U. S. Government Interests
2,403,036,507
500,000,000
68 , 425 , 333
1,839,611,174
3,000,000
1,085,256
43,600,436
13,750,000
340*476,247
110,000,000
116,428
2, j 16,100,820
759,662
1 , 6 6 9 ,893,647
3,029,327,067
77,935,905
151,554,416
117,617,300
53,171,918
70,000,000
33,045,799
111*122,039
44,500,000
9,395,598
49,358,492
4,810,178
46,744,238
47,685,692
13,422,952
231,354,208
103,254,090
110,116,428
345,447,511
3,259,317,386
165,979,040
56,301,561
1 m 408,036,507
includes $806,680 ,36 2 preferred stocks of banks and insurance companies,
Nonrstcck.
OFFICE OF THE SECRETARY
I
gl,704,754,425
341,442,425
20,952,782
6,855
629
3,699,147
101,591,043
—
—
1,499,850
108,755
$6,501,300
22,454
6,501,300
321,298,771
—
—
—
—
93,641
20,961,419
58,477,359
7,473,974
77,105,731
9,085,609
6 f2b*7f
236
2,500,869,625
2,205,318,685
—
12,540,709
563,393
77,104
30,542,495
31,348,746
223,246,958
6,166,894
773,041
5,384,066
7,678,159
840,582
o $o 11foyo fCjiu
—
75,025
4,262,540
2,084,096,151
113,488,069
1,343,113
112,144,956
104,921,311
e 22,154,717
91,349,926
101,591,043
6,501,300
320,448,566
f 170,448,566
1,255,927,076
294,423,580
82,756,564
91,349.926
101,591,043
6,501,300
150, 000,OCO
961,503,490
110,000,000
2,144,956
81,645,700
1,120,864
2°0, ° ° ° , 00/*’
15°,o o o ,° o n
7,933,407
100,7 1 6 , 6 6 7
10°,000,000
874,376
716,667
6,5°1,3^°
5 J 30,900
1,035,764,300
77,293,6°6
194,869,100
112,144,956
82,766,564
91,349,926
101,591,043
6,501,30°
d
d
e
Includes $25,613 proportionate share of earned surplus,
Includes $940,836 proportionate share of earned surplus,
f
g
includes $30,488,052 paid-in Insurance reserve-,
Includes loans in process amounting to $242,170,300.
(Amounts shown In italics represent deductions.)
TREASURY DEPARTMENT
725
2,175,446,077
-—
52,411
1,499,250
1,632
67,541
47,685,692
c
109,183,851
—
931,060
b
87,468
—
35,776,090
1,434,271
2,477,837
10,077,036
125,764,300
Exclusive of Inter-agency assets and liabilities (except bond Investments),
24,939
4,433,978
18,376,442
2,501,193
4,405,810
2,408,036,507
a
516,293
38,815
9,589,713
Excess of Assets over Liabilities,
exclusive of Inter-agency transactions
privately owne4 Interests . . . . . . . .
327,048
3,277
539,575
42,918
113,563,094
796,115,200
890,800
2,806,291
'—
if—
72,741
7,210,697.
49,751
1,037,784,374
—
mW—
j
141,217
2,163,215,645
—
—
53,000
3,389,103
1,534,962
21
22,357
.
«
.
81,645,700
200 ,0 0 0 ,0 0 0
471,605,597
17,507,000
17,507,000
HOME
LOAN
BARKS
—
275,880,389
........... *
5,130,900
2,144,956
1,120,864
7,178£$1,996,704,287
—
382,363
383,437
Distribution of Government Interests:
Capital Stock . . . . . . . . .
Surplus . . . . . ♦
Inter-agency Interests (net). . .
200, 0 0 0 ,0 0 0
110,000,000
$24,561,437
117,045,954
97,543,417
9,309,911
— -
FEDERAL
R. NK<.
FARM
1
BANKS
.
FOR
MORTGAGE t COOPER
COOPERATIVES
CORPORATION
AT IVt o
$24,206,546
45,292,134
854,120
1,802,701
'
d 1,343,113
£22,154,747
$87,439,153
$1,908,183,758
Ifi transit .
in trust funds.
r/
$37,585,041
707,566
—
^|n Hand mu' i^Banks........... .
OTHER
104,539,385
ss:
Preferred stock, capital notes, and debentures:
806,580,362
Banks and Trust Companies .........
100,000
Insurance Companies ...............
Treasury ...............
j
--
LCtf t^ Ciiy
1,789,900,099
--
$120,732,000
320,319,956
7,322,744
115,016,998
$100,477,160
F 1NANCEO PARTLY FROM GOVERNMENT FUNDS AND PARTLY FROM PRIVATE
REGIONAL
PUBLIC WORKS AGR(CULTURAL PRODUCTION
CREDIT
1 AOMINISTRACREOIT
CORPORATIONS J
|
TION
CORPOR AT 1ONS
EXPORTIMPORT
BANKS
1,725,707,207
266,456,200
56,301,561
194,869,100
113,488,069
104,921.311
91,340#026
101,591,043
6,501,300
320,448,566
1,896,759,445
182,437,570
842,915,274
75,025
4,262,540
2,084,096,151
$1,839,611,174
43,600,436
3 2 7 ,048
FINANCED PARTLY FRCM GOVERNMENT FUNDS
AND PARTLY FRCM PRIVATE FUNDS:
Federal Land Banks ...............
Federal Intermediate Credit Banks . .
Federal Farm Mortgage Corporation . .
Banks for Cooperatives. . . . . . . .
Home Loan Banks ....................
Home Owners1 L-wan Corporation . . . .
Federal Savings & baan Insurance Corp
Federal Savings A Loan Associations .
Federal Deposit Insurance 'Cor icratlon
1NTER-AGE NCY
INTERESTS
151,554,416
150,000,000
901,5°3,49O
Governmental Oospor&tions end Credit Agencies
of the United Staten
(In millions of dollars)
Proprietary interests owned by
the United States
s
:
i
e
|
Oat* SI,
1934
Financed wholly from Government funds;
Reconstruction Finance Corporation ••••«•••
Comnodity Credit Corporation ...........
Export-Import Banks *••*#•*••••••••*•****••
Public forks Administration ...............
Regional Agricultural Credit Corporations.*
Production Credit Corporations *.... •••••
Other (including crop loans) *•••»•**•*•#•#
Total, Qroup I •••«•............
II*
Sept* 30, J
1934
t
2,406
46
13
231
103
2,346
81
13
• 206
53
110
110
346
305
3.239'/
3,114
Increase
(+)
Decrease
(-)
62
33
0
25
50
0
41
^ 145*'
rimmaad partly from Government fundji
and partly from private funds;
Federal Land Banks •»•**•»••••♦**•••*♦♦»••••
Federal Intermediate Credit Banks *.... .
Federal Farm Mortgage Corporation.......
Banks for Cooperatives •«*••*#••*•*•**•*•*••
Home Loan Banks *«*•*»*»•*•#*»•*•*•*•«♦»»•*♦
Home Owners* Loan Corporation... .
Federal Savings & Loan Insurance Corporation
Federal Savings & Loan Associations ......
Federal Deposit Insurance Corporation
Total, Group II
Grand Total
166
36
196
163
103
196
112
112
83
91
82
90
102
101
7
150
5
158
9627
4,221
'
/
43
-47
- 1
0
1
1
1
2
8
1,010 /
- 48*
4,124 y
* 97
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE, MQSUING PAPERS,
irm ags Ueecaber 1<, 1934*
X S -1 3 -3 4
0
m>. 3
Fy
'
^/iAu*e>Cty
Secretary of the Treasury Morgenthau today made public a combined
statement of assets and liabilities of Governmental corporations
*nA
credit
agencies of the United States as of October 31, 193d.
The report issued today shove in the ease of agencies financed wholly
from Government funds a proprietary interest of the united States as of October
31, 1934, Of $3,259,317,388, which is an^norease of $145,234,373 over the pro**
prietary interest shown as of September 30, 1954.
In the case of these
wholly-owned Government agencies the proprietary interest represents the excess
of assets over liabilities exclusive of inter-agency items.
The Government9s proprietary interest in agencies financed partly
from Government funds and partly from private funds as of October 31, 1934,
was $961,503,490^/decrease of $48,388,512 over the Government9* interest as
of September 30, 1934#
In the case of these partly-owned Government agencies,
the Government9s proprietary interest is the saccess of assets over liabilities,
exclusive of inter-agency items, less the privately owned interest In the assetsAn
accompanying-table lists assets and liabilities of the Government
agencies as of October 31, 1954, classified as to agencies and as to the
character of the obligations.
The following tabulation shows in millions of dollars a caparison
of proprietary interest as between October 31, 1934, and September 30, 1934:
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Saturday,- December- 15, 1934.
12-14-34.
Press Service
No. 3-89
Secretary of the Treasury Morgenthau today made public a combined state
ment of assets and liabilities of Governmental corporations and credit agencies
of the United States as of October 31, 1934*
The report issued today shows in the case of agencies financed wholly
from Government funds a proprietary interest of thd United States as of October
31, 1934-, of $3,259,317,388, which is an increase of $145,234,373 over the
proprietary interest shown as of September 30, 1934.
In the case of these
wholly-owned Government agencies the proprietary interest represents the excess
of assets over liabilities exclusive of inter—agency items.
The Governments proprietary interest in agencies financed partly from
Government funds and partly from private funds as of October 31, 1934, was
$961,503,490, a decrease of $48,328-,612 over the Governments interest as of
September 30, 1934.
In the case of these partly-owned Government agencies, the
Governments proprietary interest is the excess of assets over liabilities*
exclusive of inter-agency items, less the privately owned interest in the
assets.
An accompanying table lists assets and liabilities of the Government
agencies as of October 31, 1934, classified as to agencies and as to the
character of the obligations.
The following tabulation shows in millions of dollars a comparison of
proprietary interest as between October-31*, 1934, and September 30, 1934*
Governmental Corporations and Credit Agencies
of the United States
(in millions of dollars)
Proprieto.ry interests crned By
the Unite d States
Oct. 31,
1934
Sept. 30,
1934
Increase
(+)
Decrease
It Financed wholly from Government funds:
Total, Group I ......................
:l. Financed partly from Government funds
and partly from private funds:
Federal Land Banks ............. .............
Federal Intermediate Credit Banks ..........
Federal Farm Mortgage Corporation ..........
Banks for Cooperatives .......................
Home Loan Banks .................. ...........
Home Owners'1 Loan Corporation ............ . • •
Federal Savings & Loan Insurance Corporation
Federal Savings & Loan Associations ........
Federal Deposit Insurance Corporation ......
Total, Group I I ..... ....... .
Grand Total .........................
305
4- 62
- 33
0
4- 25
4- 50
0
4- 41
3,2o9
3,114
4- 145
166
56
195
112
83
91
102
7
150
163
103
196
112
82
90
101
5
158
4 3
- 47
- 1
0
4- 1
4- 1
4- 1
4- 2
- 8
962
1,010
- 48
4,221
4,124
4- 97
2,408
C4O1
*
Reconstruction Finance Corporation ........
Commodity Credit Corporation ..............
Export-Import Banks ................ .......
Public Works Administration ...............
Regional Agricultural Credit Corporations •
Production Credit Corporations ............
Other (including crop loans) ..............
13
231
103
110
346
2,346
81
13
206
53
no
COMBINED STATEMENT
CR E D I T A G E N C I E S OF THE
OF ASSETS AN D L I A B I L I T I E S OF G O V E R N M E N T A L C O R P O R A T I O N S AND
UN I T E D STATES, AS OF O C T O B E R 31, 1934, C O M P I L E D FRO M R E P O R T S
R E C E I V E D FRO M O R G A N I Z A T I O N S C O N C E R N E D .
S U M M A R Y
ASSETS
a
1 NVE S T M E N T S ,
LOANS
CASH
Reconstruction Finance Corporation . . . . b $2,596,580,461
Commodity Credit Corporation ..........
46,661,219
Export-Import B a n k s ....................
Public W<rks Administration...........
225,271,365
Regional Agricultural Credit Corporations
96,886,128
Production Credit Corporations ........ ,
Other (including crop loa n s ) ........ . .
276-,712,212
T*tal, Group I . . . . .........
5,242,111,435
II.
FINANCED PARTLY FRCM GOVERNMENT FUNDS
AND PARTLY FRCM PRIVATE FUNDS!
Federal Land Banks ...........
Federal Intermediate Credit Banks
Federal Farm Mortgage Corporation
Banks for Cooperatives. . . . . .
Heme Lean B a n k s ...............
Heme Owners' Lean Corp#ratl«n . .
Federal Savings & Lean Insurance Corp
Federal Savings & Loan Associations .
Federal Deposit Insurance Corporation
Total, Group II . . . . . .
.
Grand Total ...............
i
OTHER
SECUR(TIES
GUARANTEED
BY U . S .
U. S ,
SECU RITIES
LIA B ILITIES
I
ALL
OTHER
$40,060,435
74,348
13,797,740
4,066,801
1,813,940
1,906,212
52,479,628
$9,834
1,937,069
9,401,426
$1,802,701
114,199,104
11,3-18,329
1,802,701
f
105,622,825
39,218,392
18,226,843
6,972,346
10,957,131
5,091,606
153,382,435
87,750
69,003,494
33,483,910
22,315,100 v
40,657,515
40,641
53,000
471,605,597
73,312,161
248,355,551
4,710,068,567
307,248,666
378,202,551
7,952,180,002
421,447,770
389,550,880
1,908,183,758
141,252,500
551,873,242
24,561,437
87,446,331
1,996,751,299
26,976,956
2,382,640
NOT
GUARANTEED
BY
UNITEO
STATES
TOTAL
and
RESERVES
BY
U NITED
STATES
$2,683,916,896
47,708,049
13,806,389
231,354,208
104,185,150
112,922,719
471,211,811
3,665,105,222
124,454,260
5,065,363
7,333,189
610,709
642,576
25,312,343
1,553,293
6,501,300
1.631,059
2,163,215,645
238,739,131
1,037,784,374
113,563,094
109,183,851
2,175,446,077
101,591,043
6,501,300
321,298,771
227,000,172 1 471,699,238
173,10-4,092
6,267,323,286
2,531,412,120
2,479,984,090
228,802,873 ' 577,322,063
363,124,93)
9,932,428,508
2,781,509,847
2,635,674,197
50,456,861 I
13,620,696 J
99,950,000
$250,097,727
1,725,707,207
a
931,060
2,806,291
125,764,300
155,690,107
931,060
2,806,291
125,764,300
405,787,834
1,896,759,445
182,437,570
37,210,361
75,025
4,262,540
358,388,944
1,896,759,445
182,437,570
842,915,274
75,025
4,262,540
2,084,096,151
IN TERESTS
OWNE D
PR 1 V A T E L Y
OWNED
TOTAL
$275,880,389
22,357
383,437
850,205
PRO PRIETARY
E X C E S S OF
A S S E T S OVER
LIA B ILITIES
$25,782,662
22,357
383,437
250,097,727
805,704,913
*
GUARANTEED
$47,276,000
972,482
8,649
2,016,022
5,475,248
1,653,912
132,618,515
190,020,828
$105,622,825
a
DISTRIBUTION
BY
CAPITAL
STOCK
U NITED
STATES
$2,408,036,507
47,685,692
13,422,952
231,354,208
103,254,090
110,116,428
345,447,511
$2,408,036,507
47,685,692
13,422,952
251,354,208
103,254,090
110,116,428
345,447,511
3,259,317,388
3,259,317,388
$100,477,160
850,205
5,011,396,210
266,456,200
56,301,561
194,869,100
113,488,069
104,921.311
91,340,926
101,591,043
6,501,300
320,448,566
1,255,927,076
5,417,184,044
4,515,244,464
294,423,586
d 1,343,113
£22,154,747
f170,448,566
294,423,586
OF
U.
S.
INTERESTS
1 NTER-AGENCY
1 NTERESTS
SURPLUS
$500,000,000
3,000,000
13.750.000
342,476,247
44.500.000
$68,425,333
1,085,256
$1,839,611,174
43,600,436
327,048
111,122,039
49,358,492
110 , 0 0 0 ,0 0 0
9,395,598
116,428
02,016,100,820
3,029,827,067
759,662
1,669,893, 647
77,935,905
151,554,416
165,979,040
117,617,300
53,171,918
56,301,561
33,045,799
70,000,000
5,130,900
194,869,100
200,000,000
112,144,956
2,144,956
110 ,000,000
82,766,564
81,645,700
1,120,864
7,933, tlO 7
91,349,926
200 ,000,000
101,591,043
100,000,000
874,376
6,501,300
6,504,300
150,000,000
150,000,000
9617503,490-- 1",035,764,300--- 77 ,'293,606
11,810,178
46,7 4 4 , 2 3 8
4,220,820,878
4,065,591,367
100,716,667
716,667
151,554,416
155,229,511
0 E T A I L S
FINANCEO
R E C O N S T R U C T 1 ON
F 1 NANCE
C O R P O R A T 1 ON
ASSETS:
Loans Banks ........................... .
Railroads .......................
Insurance Companies . . . ..........
Credit Unions .......... . ........
Building and Loan Associations. , . .
Live-stcck Credit Corporations. . . .
Mortgage Loan Companies . . . . . . .
Agricultural Credit Corporations. . .
Cooperative Associations...........
States, Territories, etc. . . . . . .
Joint Stock Land Banks.............
Federal Land jianks .............. .
Mortgage Leans. ...................
Crop, Live-stock and Commodity Leans.
Other . . . . . ...................
Sub-to t i l .................
COMMODITY
CRED IT
CORPORATIO N
EXPORTIMPORT
BANKS
$602,323,646
353,169,560
55,766,795
387,620
25,205,32=4
1,545,606
159,327,388
604,550
WHOLLY
FROM G O V E R N M E N T
FUNDS
>j
REGIONAL
P U B L I C WO R K S
Agricu ltu ral
A O M IN ISTR A -!
I
CREDIT
T 1 ON
(CORPORATIONS
FINANCED
PRODUCTION
CREDIT
CO RPORATIO NS
$120,732,000
320,319,956
7,322,744
115,016,998
104,539,385
OTHER
Investments:
U. S, Securities.............
Obligations Guaranteed by U. S.:
Federal Farm Mortgage Corporation.
Heme Owners' Loan Corporation. .....
Federal Land Bank Bonds ...........
Intermediate Credit Bank Securities.
Production Credit Associations:
Class A stock. > ... . .
Gther Investments .................
Accounts Receivable (tax advances, etc.)
Accrued Interest Receivable............
Real Estate and Business Property. . . .
Real Estate Held for Sale.............
Other Assets ............... . . . . . .
Total Assets ...............
LIABILITIES:
Bends, Notes and Debentures:
Obligations Guaranteed by U. S.
All Other . . . ... ... . . . .
Accrued Interest:
Guaranteed by U. S. . .
All Other ............ .
Other Liabilities (inc. trust accounts)
Deferral Income. . . . . . .
Reserves:
Legal Reserves.........
Reserve for Uncollectible Items
O t h e r .............
—
$37,*SOS 9,041
—
—
—
—
—
1,,072,566
32,,310, 482
—
707, 566
$602,,323,.646
511,,456, «07
55,f /c3,,795
387,,620
25,,205,,324
1,545,,606
159 ,327,,388
1,677, 110
32,,310,,482
424,,859,,3-41
8,,030,,310
115,,016,,998
44,,498,734
160,,537,853
270,,712,242
209,,034,,531
288,,459, 309
$46,661,219
!,$96,886,128
1,789,900,099
46,661,219
225,271,385 If 96,886,128
32,631,084
7,429,351
74,348
$13,797,740
*****
— M-
—
—
—
—
—
—
4,066,801
—
—
MORTGAGE
C O R P OR A T I 0 !
I
GOVERNMENT
BANKS
FOR
FUNDS
HOME
LOAN
J COOPERATIVES
BANKS
A ND
PARTLY
FROM
HOME
OWNERS'
LOAN
CO RPORATIO N
PRIVATE
FUNOS
FEDERAL SAV
FEDERAL j
I N G S A ND L O A N S A V I N G S A ND
LOAN
INSURANCE
CORPORATIO N
i M & P C JAJ.IQ.
N.
S..I
—
—
$24,206,546
TOTAL
$87,439,153
$24,561,437
48,767,983
117,0-45,954
$551,812 ,646
60 ,596
1,908,183,758
141,252,500
551,873,242
24,561,-437
87,446,331
47,012
1,996,751,299
39,218,392
18,226,843
6,587,231
184,601
8,894,740
2,062,391
2,114,647
2,976,961
153,378,285
4,150
7,178#$1,996,704,287
—
9,834
97,543,417
9,309,911
1,012,402
6,333,374
7,345,776
1,937,069
9,401,426
11,348,329
69,003,494
33,483,910
—
26,976,956
1,802,701
22,315,100
40,657,515
, > --
50,456,861
—
471^05,597
-- i
—
—
88,115,025
—
-17,507,800
1,593
959,228
11,661
485
604
1,876
2,683,916,896
47,708,049
248,150,167
-- .
156,410
1,228,182
75,326
5,684
216,410
4,957,125
130,223
435,984 !
1,580,038 I
86,285
55,205
13,306,389
231,354,208 )104,185,150
4,456,707,869
117,106,550
47,012
4,710,068,567
13,009,849
27,300,290
4,730,884
77,105,731
2,3*7- 506
3,389,163
1,534,962
21
193,994
14,254,613
51,318,417
24,153,706
6,324,715
93,969,377
112,922,719
471,211,811
3,665,105,222
2,163,215,C15
238,739,131
92,764,697
248,150,167
92,764,697
1,686,196,260
177,680,000
124,127
20,2*3,321
57,282
1,947,560
1,024,507
47,915,585
57,282
30,126,563
168,432,775
3,910,825
1,222,183
2,714,218
821,169
1,947,560
2.408.036.507
47,685,692
13,422,952
231,354,208
U. S. Government Interests
2.408.036.507
47,685,692
13,422,952
—
—
2,382,640
—
—
—
—
—
—
—
13,600,696
—
__
—
72,711
7 + 210,697
49,751
3,277
539,575
12,918
141,217
1,037,784,374
796,115,200
516,293
38,815
4,433,978
ie,376,442
2,501,198
52,411
1,499,250
1,632
21,939
87,468
725
113,563,094
109,183,851
2,175,446,077
101,591,043
gl,704,754,425
341,442,425
—
—
—
9,589,713
20,952,782
$6,501,300
6,501,300
—
931,060
2,477,837
10,077,036
125,764,300
405,787,834
1,896,759,445
182,437,570
842,915,274
75,025
4,262,540
2,084,096,151
103,254,090
110,116,428
345.447.511
3,259,317,388
266,456,200
100,477,160
56,301,561
--
194,869,100 113,488,069
-d 1,343,113
104,921,311
£ 22,154,717
91.349.926
101,591,043
6.501.300
231,354,208 j 103,254,090
110,116,428
345.447.511
3,259,317,388
165,979,040
56,301,561
194,869,100
112,144,956
82,766,564
91.349.926
101,591,043
6.501.300
500,000,000
68,425,333
1,839,611,174
3,000,000
13,750,000
042,476,247 I 44,500,000 110,000,000
2,016,100,820
1,085,256
327, 0 4 8
-j 9,395,598
116,428
759,662
43,600,456______ _________ 111,122,039 f 49,358,492______ ---_____ 1 , 669,893,647
3,029,327,067
77,935,905
151,554,416
117,617,300
53,171,919
70,000:*000
33,045,799
200,000,000
--
7,933,407
100,716,667
100,000,000
874,376
716,667
6,501,300
--
4 6 , 7 44,238
81,645,70"*
1,120,864
--
2'>3#0'T>,OCC
4,810,178
110,000,000
2,144,956
--
2,408,036,507
47,685,692
3,259,317,388
165,979,040
56,301,561
194,869,100
112,144,956
82,766,564
91,349,926
101,591,043
6,501,300
13,422,952
— -
251,354,208 (105,254,090
110,116,428
Exclusive cf inter-agency assets and liabilities^ (except bond Investments).
includes $806,680,362 preferred stocks of banks iand insurance companies,
Ncn-stcck.
246,355,551
—
1,499,850
108,755
890,800
2,806,291
—
244,374,814
62,673,338
200,514
-- .
931,060
—
—
99,950,000
—
900,168
1,015,323
25,682,662
$73,312,161
53,000
12,993,724
17,100
22,936,856
2,956,341
93,714,494
—
200,514
$87,750
378,202,551
113,429,476
113,570,696
471,605,597
88,115,025
—
Excess of Assets over Liabilities,
exclusive of inter-agency transactions
Privately owned interests ........... *
—
—
40,641
885,991
44,156,178
531,780
1,702,051
a
b
“
c
FEDERAL
DEPOSIT
INSURANCE
CORPORATION
$87,139,153
45,292,134
854,120
17,507, $00
22,357
OFFICE OF THE SECRETARY
2,435,,431,,073
,A73
FARM
$893,810
.. ... A
382,363
383,437
TREASURY DEPARTMENT
1,681,310
132,630
1,802,701
100,000
275,880,389
Distribution of Government Interests:
Capital Stock . . . . .
. . * . . .
Surplus . . . . . . .......... . ..
Inter-agency interests (net) . . . .
8ANKS
FEDERAL
FROM
806,580,362
100,000
22,357
........
FEDERAL
IN T E R M E D IA T E
CREDIT
$1,908,183,758
20,988,450
127,921,456
212
862
Total Liabilities.
FEDERAL
LAND
B ANKS
,..................
Preferred stock, capital notes, and debentures:
Banks and Trust Companies ..........
806,580,362
Insurance Companies ...............
100,000
Cash:
With U. S Treasury.........
On Hand and in Banks...........
In transit ................... .
In trust funds, a ............ : . .
TOTAL
PARTLY
345,447,511
4,8a), 673
3,272,349
2,477,837
11,450,199
—
35,776,090
1,434,271
6,855
629
3,699,147
—
12,540,709
4,405,810
i--
d
Includes $25,613 proportionate share of earned surplus.
£
f
Includes $940,836- proportionate share cf earned surplus,
Includes $30,488,052 paid-in Insurance reserve,
g
Includes loans In process amounting te $242,170,300.
—
77,164
—
—
6,267,323,286
2,500,869,625
2,205,318,695
—
67,541
(Amounts shown in italics represent deductions.)
—
563,393
—
5,130,900
22,454
.321,298,771
93,641
20,961,419
58,477,359
7,473,974
77,105,731
9,085,609
773,041
850,205
30,512,495
31,348,746
223,246,958
6,166,894
5,384,066
7,678,159
840,582
5,011,396,210
320,448,566 1,255,927,^76
f 170,448,566
294,423,586
150,000,000
961,503,490
150,000,000
1,035,764,300
77,293,606
151,554,416
150,000,000
961,503,490
TREASURY DEPARTMENT
Washington
FOR 114® IATI RELEASE
December 15, 1934*
Press Service
No,
The Treasury received today the sum of #228,538.00
from the Government of Finland, representing a payment of
principal in the amount of #62,000 and the semiannual payment
of interest in the amount of #147,507.50 under the funding
agreement of May 1, 1923, and #19,030.50 as the third
semiannual annuity due under the Moratorium Agreement of May
23,
1932.
This
payment represents the entire amount due
from the Government of Finland and was paid in cash through
the Federal Reserve Bank of New York
TREASURY" DEP1R1MENT
Washington
FOR IMMEDIATE RELEASE
December 15, 1934*
Press Service
No.
The Treasury received today the sum of #228,538*00
from the Government of Finland, representing a payment of
principal in the amount of #62,000 and the semiannual payment
of interest in the amount of #147,507*50 under the funding
agreement of May 1, 1923, and #19,030*50 as the third
semiannual annuity due under the Moratorium Agreement of May
23, 1932#
This payment represents the entire amount due
from the Government of Finland and was paid in cash through
the Federal Reserve Bank of New York
SfVrt'iH-A C* i ’’'t > V*
TV* **1’) JL o rn "
^ ‘ rn
T il•A h Oil i ik JrJur.I . . X
Washington
Press Service
Ho. 3-20
FOR IK*.~lQIAu}H RU'ViSll,
Saturday, Doc c l : cor 15, 123-i.
The Treasury received today the sum of $220,533.00 from the
G-ovornraent of Finland , representing; a payment of principal in the
amount of $62,000 and the seniannua,1 payment of interest in the amount
of $147,507.50 Tinder the funding ag;rcement of May 1, 1923, and
$12,030.-50 as tho thirl semiannual annuity duo under the Moratorium
Agrsemen f n*F Ifarr
;.
<0
o•
is:•1
This payment represents the entire amount
due from. the G-overnment of .Finland and has paid in cash through the
Federal Reserve Bank of He*7i York.
1
plus was reasonably needed for that enterprise.
Among other things,
the Bureau will consider the hazards of that business, its normal
rate of expansion, any contingencies against which reserves ought to
be set up, any unemployment insurance or employee benefits that re
quire reserves, whether the surplus is actively used in the business
of the corporation or is invested in lines of business foreign to
its own, together with any other facts which the particular corpora
tion desires the Bureau to consider.
With the assurance that, while
the Bureau intends to apply the Acts just as they were written, it
has no purpose by interpretation to extend them beyond the intent
of Congress, we believe that few executive^* will have difficulty
in determining whether their surplus is a reasonable business surp2.\is or whether it is withheld from stockholders for other reasons.
This tax is one upon corporations improperly accumulating
surpluses, beyond the reasonable needs of the(^f business, for the
purpose of preventing surtax upon
stockholders and will be
strictly and impartially enforced against the corporations to which
it is obviously intended to apply*
11
Inquiries indicate that many eorpogati-Qa asocutw q
o
are
uncertain as to the policy of the Treasury in the application of
Section 102 of the Revenue Act of 1934 and Section 104 of the
Revenue Act of 1932 to business corporations, other than investment,
or holding companies, .or personal holding corporations.
These
as indicated by the** title** apply only to corpora
tions "improperly accumulating surpluses".
The high rate of tax provided for in these Sections applies
whenever it is found that the corporation is "formed or availed of
for the purpose of preventing the imposition of the surtax upon its
share holders or the share holders of any other corporation, through
the medium of permitting gains and profits to accumulate instead of
being divided or distributed".
Few executives will have trouble to know whether their situation
indicates that withholding distribution of earnings is for business
reasons or for tax reasons.
Executives are also inquiring what the Treasury will regard
as "reasonable needs of the business" in measuring corporate surplus.
Congress did not lay down in advance a definite rule applicable to
all cases, and the Bureau of Internal Revenue is unable to do so.
Ho corporation, however, will be assessed this tax until it is advised
of the Bureau's intention and after a hearing of its case, at which
m
time the Bureau will take into consideration every fact and prospect
that a prudent business man would consider in determining what sur-
TREASURY DEPARTMENT
Washington
Press Service.
December 17, 1934*
The following statements were made to the press on Thursday, December 13,
1934:
STATEMENT BY ROBERT H. JACKSON,
ASSISTANT GENERAL COUNSEL OP THE TREASURY EOR THE
BUREAU OE INTERNAL REVENUE.
Inquiries indicate that many are uncertain as to the policy of the Treasury
in the application of Section 102 of the Revenue Act of 1934 and Section 104 of
the Revenue Act of 1932 to "business corporations, other than investment, or hold
ing companies, or personal holding corporations.
These Sections, as indicated "by the title, apply only to corporations
11improperly accumulating surpluses11•
The high rate of tax provided for in these Sections applies whenever it is
found that the corporation is ’’formed or availed of for the purpose of preventing
the imposition of the surtax upon its shareholders or the shareholders of any
other corporation, through the medium of permitting gains and profits to accumu
late instead of "being divided or distributed”.
Eew executives will have trouble to know whether their situation indicates
that withholding distribution of earnings is for business reasons or for tax
reasons.
Executives are also inquiring what the Treasury will regard as ’’reasonable
needs of the business” in measuring corporate surplus.
Congress did not lay down
in advance a definite rule applicable to all cases, and the Bureau of Internal
Revenue is unable to eb so.
No corporation, however, will be assessed this tax
until it is advised of the Bureau*s intention and after a hearing of its case, at
which time the Bureau will take into consideration every fact and prospect that
a prudent business man would consider in determining what surplus was reasonably
needed for that enterprise.
Among other things, the Bureau will consider the
hazards of that business, its normal rate of expansion, any contingencies against
which reserves ought to Id© set up, any unemployment insurance or employee benefits
that require reserves, whether the surplus is actively used in the business of the
corporation or is invested in lines of business foreign to its own, together with
any other facts which the particular corporation desires the Bureau to consider.
With the assurance that, while the Bureau intends to apply the Acts just as they
were written, it has no purpose by interpretation to extend them beyond the intent
of Congress, we believe that few executives will have difficulty in determining
whether their surplus is a reasonable business surplus or whether it is withheld
from stockholders for other reasons*
This tax is one upon corporations improperly accumulating surpluses, beyond
the reasonable needs of the business, for the purpose of preventing surtax upon
stockholders and will be strictly and impartially enforced against the corporations
to which it is obviously intended to apply*
STATEMENT BY GUY T. HELVERING,
COMMISSIONER OF INTERNAL REVENUE.
I can perhaps illustrate the attitude of the Bureau of Internal Revenue
concerning tax cases coming under Section 104 of the Revenue Act of 1932 and
Section302 of the Revenue Act of 1934 better by a few practical illustrations
representing cases now pending in the Bureau.
No operating corporation accumulating surpluses and using the same in the
business in which it is engaged should be apprehensive.
As an illustration, a
manufacturing company in good faith setting up surpluses for the purpose of
acquiring material, offsetting a fluctuation in wage scale, carrying the proper
amounts to offset accounts receivable or accumulating a reasonable reserve to pay
present indebtedness, would not be taxed under Section 102 of the law of 1934
for accumulating unreasonable surpluses.
It would be an entirely different matter, however, if it accumulated these
surpluses for the purpose of purchasing stocks, bonds, and securities of other
corporations.
For example, a corporation in the soap manufacturing business
using the earnings to acquire large blocks of bonds and securities and with large
*-3~
surpluses already accumulated, should not he allowed to escape a tax under this
Section if the additional surplus was for the purpose of.expansion of business
into another field as, forinstance, the grocery business*
Nor should an automo
bile business be allowed to build up large surpluses for the purpose of acquiring
a railroad or mining properties simply because it ships its products.over rail
roads and uses the output of mines in the manufacture of its product*
large surpluses have been accumulated by holding companies for example and
the following are typical examples where,in the opinion of the Bureau, taxes
should be assessed under the provisions of Section 104:
A Company
Capital stock
$200,000*00
Earnings for two years
$5,400,000.00
No dividends declared*
In this case it is the purpose of the Bureau to assess the company 50$
of the undistributed income under the provisions of Section H)4*
B Company
Another' typical corporation holding company:
Capital stock
$3,000,000*00
Existing surplus
$4,750,000*00
Income, one particular year in excess of
$3,000,000*00
No dividends declared*
It is the purpose in this case to apply Section 104*
No one could view the operations of these two last-named companies without
coming to the conclusion that their failure to declare dividends showed very
clearly an evasion of surtaxes.that would naturally be paid by the stockholders
if the dividends were declared*
i
OFFICE OF THE SECRETARY
W A SH IN G TO N
C O M M IS S IO N E R O F
A C C O U N T S A N D D E P O S IT S
December 15, 1934*
MR. GASTON;
During the calendar month of November, 1934, transactions
in Government securities vers as follows for the accounts specified:
\
Postal Savings System:
Purchases. Treasury bonds • . . • $1,295,000
Sales. Fourth Liberty’
s
• . • • 2,100,000
Net sales on market
$ 805,000
Federal Deposit Insurance:
Sfcjggflftagsa
Sales (Treasury notes and bonds)* $30,600,000
MiseeHansons:
Purchases. Treasury bonds • • • • $ 1,599,250
No sales
SUMMARY
Grand total of Government securities purchased on
market
Grand total of Government securities add on
market
Net sales on market in November
$ 2,894,250
32,700,000
$29,805,750
TREASURY DEPARTMENT
T7ashi ngton
Immediate Release,
Mon&aj’, Dec enter 17, 1934.
Press Service
No. 3-91
Transactions in narket purchases and sales of G-overnnent securities
for Treasury.' investment accounts for the calendar month of Noventer, 1934,
resulted in net sales of $29,805,750, Secretary/ Morgenthau announced toda^r.
TREASURY DEPARTMENT
Washington
For Immediate Release
Monday, December 17, 1934.
Pr
4*
The report on the availability of bank credit in the Seventh
Federal Reserve District by Charles 0. Hardy and Jacob Viner,
epresents the result of a studymade under the authority of four
cooperating agencies of the United States Government.
The study
was authorized by Secretary Morgenthau, on behalf of the Treasury,
by Chairman Jones on behalf of the Reconstruction Finance Corpora
tion, by former Governor Black on behalf of the Federal Reserve
Board, and by Chairman Crowley on behalf of the Federal Deposit
Insurance Corporation.
m
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, December 17, 1934*
•
Press Service
^ 0% 3—92
The report on the availability of "bank credit in the Seventh Federal
Reserve District by Charles 0. Hardy and Jaco"b Viner which is released for
publication in morning newspapers of Tuesday, December 18, represents the
result of a study made under the authority of four cooperating agencies of
the United States Government.
The study was authorized by Secretary Morgenthau*
on behalf of the Treasury, by Chairman Jones on behalf of the Reconstruction
Finance Corporation^- by former Governor Black on behalf of the Federal Reserve
Board, and by Chairman Crowley on behalf of the Federal Deposit Insurance
Corporation*
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS.
December 17, 1954.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1953)
Week ended December 1<;
.954:
San Francisco....,
Denver....
....................
Total *****
I D e c .
14,1954..___
542,278.44 fine ounces
06,451.00 "
"
648,729.44
~ ?y C iJL
1%
’ILVI'R TRANSFERRED TO TESTED STAI
(Under Executive Proclamation of August 9, 1954)
Week ended December 14, 1954:
Philadelphia.........................
New Y o r k ........... ........
San Francisco........................
Denver ..............................
New Orleans .........................
Total
. 14, 1954....
Total receipts through Dec. 14, 1934.....
50.719.00 fine ounces
577.895.00 "
”
13.229.00 "
n
1,294.00
"
"
244.00 "
"
927.00 "
"
444,308.00
110, 506,840.00 **
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended Dec. 14, 1954:
Import£
Philadelphia
25,142,200.00
New York
San Francisco
292,260.55
47,002.00
Denver
4,071.44
New Orleans
Seattle
Total for week ended Dec. 14, 1954.. . $25,485,555.97
Secondar
285,512.08
542,000.00
159,871.69
27,065.00
50,981.48
24,587.55
$1,049,917.58
New
Domestic
170.10
0 .0 0
>
964,987.99
756,042.00
.685.22
255,510.08
$1,984,993.59
GOLF RECEIVED BY FEDERAL RESERVE BANKS AND THE TRE/N URER1S OFFICE:
(Under Secretary’s Order of December 28, 1955)
Gold Coin
Received by Federal Reserve Banks:
Gold Certificates
50,634.40'
$
451,890.00
Week ended Dec. 15.......... .
$
29 ,528.559.92
78,568,060.00
Received previously.......... .
$29 ,579,194.32
$79,019,950.00
Total to December 12.,..........
Received by Treasurer’s Office:
Reek ended Dec. 1^?% ..........
Received previously....... .
Total to December 12............
Note:
$
$
257.906.00
257,906.00
18,700.00
1,906,600.00
$ 1,925,500.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572.69 previously reported.
•ft
J
• •
TREASURY DEPARTMENT
Washington
December 17, 1934.
MEMORANDUM POR THE PRESS.
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
Week ended December 14, 1934:
San Francisco .................... ..........
542,278.44 fine ounces
Denver
....................................
106,451.00
648,729.44
Total for week ended Dec* 14, 1934 .......
Total receipts through December 14, 1934 ..... 19,964,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 14, 1934:
Philadelphia ........................
New York ...................................»
San Francisco..... .....
Denver •........ ...... ............. ...... . ••
50,719.00 fine ounces
it
377,895.00
it
13,229*00
1,294.00
New Orleans ................
244.00
Seattle .... ........ ..................
....927.00
Total for week ended Dec. 14, 1934 ........
444,308.00
Total receipts through Dece mber 14, 1934 ..... 110,306,840.00
ii
it
ii
n
ii
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended December 14, 1934:
_____Imports
.................
$
----Philadelphia
New Y o r k .....................
23,142,200.00
San Francisco ..........
292,260*53
Denver .......................
47,002.00
New Orleans ...................
4,071.44
Seattle ........... ...........
.........
Total for week ended Dec. 14, 1934 $23,485,533*97
New
Domestic
Secondary
170.10
$ 285,312*08 $
27,800.00
542,000.00
964,987.99
139,871.69
736,042.00
27,065.00
683.22
30,981.48
255,310.08
24,687.33
$1,049,917*58 $1,984,993.39
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended Dec. 1 2 ............. $
50,634.40
Received previously .............
29,528,559.92
Total to December 12, 1934 ...... $29,579,194.32*
Received by Treasurer's Office:
Week ended Dec. 1 2 ............ .. $
— *—
Received previously ............. ...257,906.00
Total to December 12, 1934 ....... $
257,906.00
NOTE:
____ Gold Certificates
$
451,890.00
78,568,060*00
$79,019,950.00
$
18,700.00
1,906,600.00
$ 1,925,300.00
Gold bars deposited with the New York Assay Office
to the amount of $200,572*69 previously reported.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 18, 1984.
12/17/34
Press Service
3
~
1
3^
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated December 19, 1934, and
maturing June 19, 1935, which were offered on December 14
were opened at the Federal reserve banks on December 17,
1934*
The total amount applied for was $333,129,000, of
which $75,020,000 was accepted. Except for one bid of
$20,000, the accepted bids ranged in price from 99*939,
equivalent to a r d e of about 0*12 percent per annum, to
99*915, equivalent to a rate of about 0.17 percent per
annum, on a bank discount basis. Only part of the amount
bid for at the latter price was accepted. The average
price of Treasury bills to be issued is 99.921 and the
average rate is about 0.16 percent per annum on a bank
discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. December 18* 1934*
12-17-34*
Press Service
No* 3— 93
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $75,000,000, or thereabouts, of 182-day Treasury hills, dated
December 19, 1934, and maturing June 19, 1935, which were offered.on December
14, were opened at the Federal reserve banks on December 17, 1934*
The total amount applied for was $333,129,000, of which $75,020,000 was
accepted*
Except for one bid of $20,000, the accepted bids ranged in price
from 99*989, equivalent to a rate of about 0*12 percent per annum, to 99*915, .
equivalent to a rate of about 0*17 percent per annum, on a bank discount basis#
Only part of the amount bid for at the latter price was accepted*
The average
price of Treasury bills to be issued is 99*921 and the average rate is about
0*16 percent per annum on a bank discount basis*
-
&
-
$34,767.£3, otherwise payable on January 1, 1934.
A note to this
effect has been made upon the records of the Treasury.
repayable together with further interest at 5 per cent per annum in
25 equal annuities on January 1, of each of the years 1944 to 1968,
inclusive.
The 1955 annuity under the September 14th agreement is
postponed and repayable in a similar manner.
The Treasury has heretofore listed Austria as one of the
countries that failed to make certain payments as required by agree
ments to which the United States was a party for the reason that the
Treasury took the view that the objections raised by the Trustees in
January 1, 1934,
November, 1933 did not apply to the annuity of $34,767.25 due/under
the agreement dated September 14, 1932.
The Treasury has recently
received through the State Department a copy of a letter dated September
6, 1934 from the Trustees to the Austrian Minister of Finance in which
the Trustees state that they confirm that their letter of November 21,
193$ must be considered as covering all payments due by Austria under
the Relief Credit agreements, including those postponed under the Hoover
moratorium which fell due on January 1, 1934.
Information furnished to
the Government of the United States indicates that Austria has not made
any payment due creditors inconsistent with the TrusteesT letter of
September 6, 1934, and also that no creditor, among those who have
replied, has opposed the position taken in that letter.
The Treasury is of the opinion that it would be appropriate
to take the view that the notice of the Trustees of November 21, 1933,
as more recently clarified, postponed in accordance with the provisions
of the agreement dated September 14, 1932, the annuity amounting to
TREASURY DEPARTMENT
FOR RELEASE
3- ?
f
STATEMENT BY SECRETARY MORGENTHAU
The Treasury has been notified by the Department of State
that a note dated November 50, 1954 has been received from the Austrian
Minister stating that the Austrian Government received on November 26,
1954, a communication from the Trustees of the Austrian Government
Guaranteed Loan of 1925-1945, in which objections were raised against
the payment to the
creditor governments signatory to the agreements
relative to the settlement of Relief Debts of the amounts due to them
in 1955, end that in view of these objections no remittance can be made
to cover the installments due within the next year.
The lien upon the assess
and revenues of Austria pledged for
the payment of Austrian Relief bonds has been subordinated to the lien
upon such assets and revenues pledged for the payment of the Austrian
G u a r a n t eed
Loan of 1925.
The objections by the Trustees to the
payments due from Austria on account of the relief bonds is in accordance
with the agreements concluded between Austria and the International
Relief Bonds Committee and the agreements between Austria and the United
States dated May 8, 1930 and September 14, 1932.
In accordance with the provisions of the agreement of May 8,
1930, bond No. 7 in the face amount of $460,095, due January 1, 1935,
will be postponed and said amount together with interest at the rate'of
5 per cent per annum compounded
annually to December 31, 1943, is
TREASURY DEPARTMENT
Washington
6R IMMEDIATE RELEASE,
Briday, December 21, 1934#
e
Press Service
No# 3-94
The Treasury has been notified by the Department of State that a note dated
November 30, 1934 has been received from the Austrian Minister stating that the
Austrian Government received on November 26, 1934, a communication from the
Trustees of the Austrian Government Guaranteed Loan of 1923—1943, in which object
ions were raised against the payment to the creditor governments signatory to the
agreements relative to the settlement of Relief Debts of the amounts due to them
in 1935, and that in view of these objections no remittance can be made to cover
the installments due within the next year*
The lien upon the assets and revenues of Austria pledged for the payment of
Austrian Relief bonds has been subordinated to the lien upon such assets and
revenues pledged for the payment of the Austrian Guaranteed Loan of 1923*
The
objections by the Trustees to the payments due from Austria on account of the
relief bonds is in accordance with the agreements concluded between Austria and
the International Relief Bonds Committee and the agreements between Austria and
the United States dated May 8 , 1930 and September 14, 1932*
In accordance with the provisions of the agreement of May 8 , 1930, bond No* 7
in the face amount of $460,093, due January 1, 1935, will be postponed and said
amount together with interest at the rate of 5 per cent per annum compounded
annually to December 31, 1943, is repayable together with further interest at 5
per cent per annum in 25 equal annuities on January 1, of each of the years 1944
to 1968, inclusive*
The 1935 annuity under the September 14th agreement is post
poned and repayable in a similar manner*
The Treasury has heretofore listed Austria.as one of the countries that failed
to make certain payments as required by agreements to which the United States was a
party for the reason that the Treasury took the view that the objections raised
by the Trustees in November, 1933 did not apply to the annuity of $34,767*23 due
January 1, 1934, under the agreement dated September 14, 1932«
The Treasury has
recently received through the State Department a copy of a letter dated September
6 ., 1934 from the Trustees to the Austrian Minister of Finance in which the Trustees
state that they confirm that their letter of November 21,, 1933 must be considered
as covering all payments due by Austria under the Relief Credit agreements,,
including those postponed under the Hoover moratorium which fell due on January 1,
1934#
Information furnished to the Government of the United States indicates that
Austria has not made any payment due creditors inconsistent with the Trustees*
letter of September 6., 1934, and also that no creditor, among those who have
replied, has opposed the position taken in that letter#
The Treasury is of the opinion that it would be appropriate to take the view
that the notice of the Trustees of November 21 # 1933., as more recently clarified,
postponed in accordance with the provisions of the agreement dated September 14,
1932, the annuity amounting to $34,767#23, otherwise payable on January 1, 1934#
A note to this effect has been made upon the records of the Treasury#
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, December 28, 1934*
12/21/34
Press Service
^ yT
Secretary of the Treasury Morgenth&u announced last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated December 26, 1934, and
maturing June 26, 1935, which were offered on December 19,
were opened at the Federal reserve banks on December 21,
1934a
The total amount applied for was $229,299,000, of
2b
which $75,300,000 was accepted* The accepted bids ranged
in price from 99*950, equivalent to a rate of about 0*10
3
percent per annum, to 99*937, equivalent to a rate of
about 0*12 percent per annum, on & bank discount basis*
The average price of Treasury bills to be issued is 99.942
and the average rate is about 0*12 percent per annum on a
bank discount basis*
TREASURY DEPARTMENT
Washington
Press Service
Ho* 3-95
'OR RELEASE, MORNING NEWSPAPERS,
,aturdayT December 22, 1954*_—
.2-21-34*
AIL £AL4AJ
*
tenders for $75,000,000,
“ “
or
•i
p*
**“
thereabouts, of 182-aay Treasury hill
,
T
1935 which were offered on December
December 26, 1934, and maturing June 2 d , 1935, «■
19
were opened at the Federal reserve banks on December 21, 1
oopq 299 000, of which $75,300,000
The total amount applied for was $o29,o99,OUU,
Si, | M ^ - r i c e from 99.950, equivalent to
The accepted bids ranged i, P
i q q orvy eauivalent to a rate o
a rate of about 0.10 percent per annum, to
•
,
was accepted,
no a bank discount basis.
about 0.12 percent per annum, on a bank M *
The average price
■ anon is 99.942 and the average rate is about
of Treasury bills to be issued is 9 9 . a ^ an
percent per annum on a bank discount basio.
,
TREASURY DEPARTMENT
Washington
December 24, 1934
MEMORANDUM FOR THE PRESS,
RECEIPTS OF SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
Week ended December 21, 1934:
Ph i l a d e l p h i a.................... .........
San F r a n c i s c o .......... ............... ..
Denver............ ...... .................
Total for week ended Dec. 21, 1934.....
Total receipts through December 21, 1954....
247,779.47
460,518.84
88.903.00
797,206.51
20,759,000.00
fine ounces
"
«
n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 21, 1934:
Philadelphia .............................
New York .................................
D e n v e r ..... ................ ............
New Orleans ..............................
Seattle.......... ........................
Total for week ended Dec. 21, 1934.....
Total receipts through December 21, 1934...
4.233.00
685,957.00
1.447.00
486.00
672.00
692,795.00
110,999,635.00
ine ounces
tt
f lT O
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended December 21, 1934....
Philadelphia..... ..... ............ $
----....... .............. . 22,089,400.00
New York
San Francisco ....... ............ ..
209,500.28
Denver
.... .
20,197•00
New Orleans........................
- — —
S
e
a
t
t
l
e
______~ —• *** .
Total for week ended Dec.14,1934. $22,319,097.28
Secondary
I 308,422.51
555,800.00
97,126.87
35,334•00
38,393.70
22.752.28
$1,057,829.56
New
Domestic
J
997.57.
24,800.00*
1,517,784.89
749,014.00
259.64
171.962.51
$2,464,818.61
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary’s Order of December 28, 1 9 3 3 ) ~
Week ended Dec. 1 9 ...... .
Received previously.......
Total to December 19, 1934.
Gold Coin
32,340.44
29.579,194.32
$29,611,534.76
Gold Certificates
616,270.00
79,019,950.00
$79,636,2^^ffrr
$
$
$
•«
Received by Treasurers Office
Week ended Dec. 19.
••
Received previously • • • ♦
Total to December 19, 1934.
$
600.00
257,906.00
258,506.00
$
t
7,300.00
1,952,600.00
$ 1,932,600.00
a m
NOTE:
Gold bars deposited with the New York Assay Office to
the amount of $200,572.69 previously reported.
TREASURY DEPARTMENT
« H #
Washington
December 24, 1934t
MEMORANDUM EOR THE PRESS
RECEIPTS OP SILVER BY THE MINTS:
(Under Executive Proclamation of December 21, 1933)
*\|
Week ended December 21, 1934?
247,779,47 fine ounces
Philadelphia...................
460,518.84
»
11
San Erancisco.... ............... ........ .
88.908.00
n
11
Denver...... .......
Total for week ended Dec. 21, 1934.......• •
797,206.31
Total receipts through December 21, 1934*....... 20,759,000.00
SILVER TRANSFERRED TO UNITED STATES?
(Under Executive Proclamation of August 9, 1934)
Week ended December 21, 1934:
4,233*00 fine ounces
Philadelphia.... ........... ......... .
685,957,00 "
New York ........ ................. .
1,447.00 n
Denver ........... ................ .
486.00 M
New Orleans......... .
672*00 M
Seattle. ........................... ........**,
Total for week ended Dec# 21, 1934.........
692,795*00
ftm, Total receipts through December 21, 1934.......*110,999,635*00
RECEIPTS OF GOLD BY THE MINTS AND ASSAY PEEICES?
Imports.
Week ended December 21, 1934.
Philadelphia
.... ...**
New Y
o
r
k
.
22,089,400*00
San Francisco....... .
209,500*28
Denver....... ......................... *
20,197*00
New Orleans .......... .
— —
Seattle
Total for week ended Dec* 14, 1934*•• $22,319,097*28
New
Secondary.
Domestic
997.57
308,422.51$
555,800*00
24,800.00
97,126,87 1,517, 784.89
35,334.00 749,014«00
38,393.70
259.64
22,* 752* 28 171,962.51
$1,057,829*36$2,464,8l8*6L
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERS OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended Dec* 19 ............ .
Received previously*............ ...... ...
Total to December 19, 1934...............
Received by Treasurer*s Office:
Week ended Dec* 19........ ..............
Received previously*......... ..........*•
Total to December 19, 1934*.............•
NOTE:
__ Gold Coin
$
32,340*44
29.579.194*32
$29,611,534*76
Gold Certificates
$
616,270,00
79.019.950.00
$79,636,220.00
$
$
_
$
600,00
257.9Q6.D0
258,506.00
Gold bars deposited with the New York Assay Office to
the amount of $200,572*69 previously reported*
7,300*00
1.932,600*00
$ 1,932,600.00
/
17
\
Page 2 . . .
In October, 1935 Mr* Oberwortmann obtained leave of
absence from the Federal Reserve Bank when he was called to
Washington and made Chief of the Examining Force of the entire
country for the Federal Deposit Insurance Corporation, He
was one of the first called to Washington by the Corporation
and remained with it until the examination of all non-member
state banks applying for membership had been completed.
Mr. Oberw^^mann was of great a&sistance to the Federal
Deposit Inqpr^Rce Corporation by reason of JpLs long years of
experience auA his great knowledge of uhe jcechnical details of
banking andAhe examining work. While cfflCLeave of absence from
the FederaJT H&serve Bank he spent 15 to^oS^ours a day in
performing a gneat task for the Federal Deposit Insurance
Corporation. \.
X
<1
J. F. T. 0*Connor, Comptroller of the Currency,
announced today the appointment, with the approval of the
Secretary of the Treasury, of Nugent R. Oberwortmann of
Kansas City, Missouri, as Chief National Bank Examiner
of the Seventh Federal Reserve District, with headquarters
in Chicago, Illinois.
Mr. Oberwortmann was born in Berger, Missouri, August
26, 1896, but moved with his parents to Chetopa, Kansas in
1903.
From 1917 to 1922 Mr. Oberwortmann was employed by the
Farmers and Merchants State Bank of Chetopa, Kansas, with the
exception of the period of the World War •
In 1922 he was
appointed an examiner for the Kansas State Banking Department
and was promoted in 1923 to the position of Deputy Bank
Commissioner of that State. In 1926 he was again promoted^
and made First Special Assistant Bank Commissioner, when his
duties consisted of making special examinations, als o .reorgan
izing and reopening closed state banks.
t
#/t%>
In 1927 Mr. Oberwortmann resigned his position as First
Special Assistant Banking Commissioner and accepted a position
as examiner with the Federal Reserve Bank of Kansas City. Soon
thereafter he was appointed Assistant Cashier of the Federal
Reserve Bank and was placed in charge of the examination of all^
state banks and trust companies making application for membership,
as well as all examinations of state member banks of the Federal
Reserve System. His duties also consisted of reviewing and
analysing reports of examination of all national banks in the
Tenth Federal Reserve District.
During the banking holiday in 1933 he served on an important
committee of the Federal Reserve Bank in connection with the
licensing of national and state bank members of the Tenth Federal
Reserve District, after which he was appointed Assistant Federal
Reserve Agent of the Kansas City Federal Reserve Bank.
*1
w m
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Friday, December 28, 1934*
Press Service
No* 3-96
J*F*T# O fConnor, Comptroller of the Currency, announced today the appointment
with the approval of the Secretary of the Treasury, of Nugent R* Oberwortmann of
Kansas City, Missouri, as Chief National Bank Examiner of the Seventh Federal
Reserve District, with headquarters in Chicago, Illinois*
Mr* Oberwortmann was born in Berger, Missouri, August 26, 1896, but moved
with his parents to Chetopa, Kansas in 1903*
From 1917 to 1922 Mr* Oberwortmann was employed by the Farmers and Merchants
State Bank of Chetopa, Kansas, with the exception of the period of the World War*
In 1922 he was appointed an examiner for the Kansas State Banking Department and
was promoted in 1923 to the position of Deputy Bank Commissioner of that State*
In 1925 he was again promoted and made First Special Assistant Bank Commissioner,
when his duties consisted of making special examinations, also reorganizing and
reopening closed state banks*
In 1927 Mr* Oberwortmann resigned his position as First Special Assistant
Banking Commissioner and accepted a position as examiner with the Federal Reserve
Bank of Kansas City*
Soon thereafter he was appointed Assistant Cashier of the
Federal Reserve Bank and was placed in charge of the examination of all state
banks and trust companies making application for membership, as well as all
examinations of state member banks of the Federal Reserve System*
His duties also
consisted of reviewing and analyzing reports of examination of all national banks
in the Tenth Federal Reserve District*
During the banking holiday in 1933 he served on an important committee of the
Federal Reserve Bank in connection with the licensing of national and state bank
members of the Tenth Federal Reserve District, after which he was appointed
Assistant Federal Reserve Agent of the Kansas City Federal Reserve Bank*
In October , 1933 Mr* Oberwortmann obtained leave of absence /from the Federal
V
/
Reserve Bank when he was called to Washington and made Chief of the Examining
Force of the entire country for the Federal Deposit Insurance Corporation#
I'M
He
was one of the first called to Washington "by the Corporation and remained with it
until the examination of all non^member state hanks applying for membership had
been completed#
For immediate release.
December 28, 1954
J. F. T. 0 1Connor, Comptroller of the Currency, has issued
new regulations, effective December 27, 1954, further defining the
of the Revised Statutes of the United States as amended by the
Banking Act of 1955.
An important change made in the new regulations is to permit
banks to purchase for their own account direct from issuers of
securities new issues where the issuer has securities outstanding
with a broad market and the new securities are registered under
the Securities Act of 1955 as amended, or are exempt therefrom
under Section 5 thereof.
The new regulations were issued in cooperation with the
Securities and Exchange Commission and with their approval•
c
TREASURY DEPARTMENT
Washington
Press Service
No. 3-97
J. P. T* O'Connor, Comptroller of the Currency, has issued new regulations,
under the provisions of Section 5136 of the Revised Statutes of the United
States as amended by the Banking Act of 1933.
An important change made in the new regulations is to permit banks to
purchase for their own account direct from issuers of securities new issues
where the issuer has securities outstanding with a broad market and the new
securities are registered under the Securities Act of 1933 as amended, or are
exempt therefrom under Section 3 thereof.
The new regulations were issued in cooperation with the Securities and
Exchange Commission and with their approval.
SERIES I.
REGULATIONS FURTHER DEFINING THE TERM «INVESTMENT
SECURITIES AS USED IN THE ’’BANKING ACT OF 1933” .
By virtue of the authority vested in the Comptroller of the Currency by
the terms of Section 5136 of the Revised Statutes as amended by Section 16
of the "Banicing Act of 1933” , approved June 16, 1933, the following regulations further defining the term "investment securitie s” are prescribed:
1.
The business of buying and selling investment securities by national
banks is governed by Section 5136 of the Revised Statutes of the United
States as amended by Section 16 of the "Banking Act of 1933", approved June
16, 1933, as follows:
"Sec. 16. Paragraph 'Seventh1 of section 5136 of the
Revised Statutes, as m e n d e d (U. S. C., title 12, sec. 24;
Supp. VI, title 12, sec. 24), is amended to read as follows:"
’Seventh. To exercise by its board of directors of
duly authorized officers or agents, subject to law, all such
incidental powers as snail be necessary to carry on the
business of banking; by discounting and negotiating promissory
notes, drafts, bills of exchange, and other evidences of debt;
by receiving deposits; by buying and selling exchange, coin,
and bullion; by loaning money on persona.1 security; and by
obtaining, issuing, and circulating notes according to the
provisions of tnis title. The business of dealing in invest
ment securities by the association shall be limited to pur
chasing and selling such securities without recourse, solely
upon txie order, and for the account of, customers, and in no
case for its own account, and the association shall not under
write ary issue of securities: Provided, That the association
mcgy purchase for its own account investment securities under
such limitations and restrictions as the Comptroller of the
Currency may b y regulation prescribe, but in no event (1) shall
the total amount of any issue of investment securities of any
one obligor or maker purchased after this section as amended
takes effect and held by the association for its own account
exceed at any time 10 per centum of the total amount of such
issue outstanding, but this limitation shall not apply to any
such issue the total amount of which does not exceed &100,000
and does not exceed 50 per centum of the capital of the asso
ciation, nor (2) shall the total amount of the investment
M
O
§
securities of any one obligor or maker‘purchased after this section
as amended takes effect and held by the association for its own
account exceed at any time 15 per centum of the amount of the
capital stock of the association actually paid in and unimpaired and
25 per centum of its unimpaired surplus fund. As used in this sectlpn the^ term^1investment securities* shall mean marketable obligaevidencing indebtedness of any person, co-partnership, association.
££.
, corporation in the form of bonds, notes and/or debentures commonly
ipow n ,as investment securities under such further definition af the
— Ifi.
VQ s tment se cur i 11es 1 as m ay by regulatio n b e pres crib ed. by the
5 Qaipt,ro1 ler_pf_the Currency. Except as hereinafter provided or other
wise permitted by law, nothing herein contained shall authorize the
purchase by the association of any shares of stock of any corporation#
The limitations and restrictions herein contained as to dealing in
underwriting and purchasing for its own account, investment securities
s all not apply to obligations of the United States, or general obli
gations of any State or of any political subdivision thereof, or
obligations issued under authority of the Federal Farm Loan Act, as
amended, or issued by the Federal Home Loan Banks or the Home Owners1
oan Corporation? Provided, That in carrying on the business commonly
known as the safe-deposit business the association shall not invest
in the capital stock of a corporation organized under the law of any
ate to conduct a safe-deposit business in an amount in exoess of
15 per centum of the capital stock of the association actually paid
m and unimpaired and 15 per centum of its unimpaired surplus#1
. ® 3,e restrictions of this section as to dealing in investment
securities shall take effect one year after the date of the approval
of this Act*11
2. Section 5(c) of the "Banking Act of 1933" provides in part as
follows:
"State member banks shall be subject to the same limitations
and conditions with respect to the purchasing, selling, underwriting,
and holding of investment securities and stock as are applicable in the
case of national banks under paragraph ‘Seventh1 of section 5136
of the Revised Statutes, as amended*"
3, An obligation of indebtedness which may be purchased for its own
account by a member bank of the Federal Reserve System, either State or
National, in order to come within the classification ef "investment securi
ties" within the meaning of the proviso of Section 5136 above quoted, must
be a marketable security as designated by the express language of said pro
viso#
Under ordinary circumstances, the term "iparketable" means that the
security in question lias such a market as to render sales at intrinsic
values readily possible.
4. In classifying a given security as marketable, the Comptroller
of the Currency may in specific cases give consideration to various facts
and circumstances, but he will require in all cases the following:
(a) That the issue be of a sufficiently large total
to make marketability possible;
(b) (1) Such a public distribution of the securities
must have been provided for or made in a manner to
protect or insure the marketability of the issue, or,
(2) other existing securities of the issuer have
such a public distribution as to protect or insure
the marketability of the issue and the issue shall
have been registered under the provisions of the
MSecurities Act of 1933n as amended, or are exempt
therefrom under Section 3 thereof,
(c) That the trust agreement under which the security is
issued provides for a trustee independent of the
obligor and in the case of securities issued under
a trust agreement executed and delivered after sixty
days from the date cf the promulgation of these regu
lations, such a trustee must be a bank or trust company.
5. This series of regulations may be modified, amended or with
drawn at any time by the Comptroller of the Currency,
Signed and promulgated this 27th day of December, 1934.
J. F. T. 0* CONNOR,
Comptroller of the Currency.
TREASURY DEPARTMENT
WASHINGTON
FOE RELEASE, MORNING NEWSPAPERS,
Pres* Service
Saturday. December 29» 1984*
12/28/34
Secretary of the Treasury Morgenthau announoed last
evening that the tenders for $75,000,000, or thereabouts,
of 182-day Treasury bills, dated January 2, 1935, and
maturing July 3, 1985, which were offered on December 26,
were opened at the Federal reserve banks on December 28,
1934.
The total amount applied for was $214,180,000, of
which $75,150,000 was aocepted. The accepted bids
ranged in price from 99.951, equivalent to a rate of
about 0.10 percent per annum, to 99.942, equivalent
to a rate of about 0.11 percent per annum, on a bank
discount basis. Only part of the amount bid for at the
latter price was accepted. The average price of Treasury
bills to be issued is 99.949 and the average rate is
about 0.10 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Saturday,. December 29« 1934,
12-28-34,.
*
Press Service
No, 3-98
Secretary of the Treasury Morgenthau announced last evening that the tenders
for $75,000,000, or thereabouts, of 182-day Treasury bills, dated January 2, 1935,
and maturing July 3, 1935, which were offered on December 26, were opened at the
Federal reserve banks on December 28, 1934,
The total amount ap;olied for was $214,130,000, qf which $75,150,000 was
accepted.
The accepted bids ranged in price from 99,951, equivalent to a rate of
about 0.10 percent per annum, to 99,942, equivalent to a rate of about 0.11
percent per annum, on a bank discount basis,.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99*949 ane the average rate is about 0.10 percent per annum on a bank
discount basis
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Saturday, December 29. 1934.
12-28-34.
Press Service
No. 3-99
Secretary Morgenthau has issued instructions to Treasury revenue policy to
exercise the greatest vigilance to prevent illegal shipments of arms, ammunition
and explosives to Cuba.
The Secretary's action is in furtherance of the anti-smuggling treaty
between the governments of the two countries, in support of which President Carlos
Mendieta of Cuba recently issued a drastic order forbidding shipments of alcohol
to intermedia.te foreign ports which were known to be bases for smuggling into the
United States.
Customs Agents, border patrol officers and the Coast Guard will be enlisted
to make the new instructions effective.
unauthorized arms and ammunition
They are instructed not only to seize
shipments, but to anticipate any attempts to
make illegal or disguised shipments by locating assembly points.
@FedFRASER